18                               LAWS OF MARYLAND                       [CH. 18

(j) That the total of the share account balances agreed with the
balance of the shares account in the general ledger.

(k) That the total of the deposit account balances agreed with the
balance of the deposits account in the general ledger.

(1) That the total of the loan account balances agreed with the
balance of the loans account in the general ledger.

(m) That the record of receipts and disbursements and cancelled
checks were inspected and found to be correct.

(n) That the minutes of the board of directors' meetings were
found to be written up to the date of the examination.

(o) That from time to time and not less frequently than once
every two (2) years, cause the passbooks and accounts of all
members to be verified with the records of the treasurer. The
committee shall maintain a record of the verification.

It shall fill vacancies in the committee until the next regular meet-
ing of the members. At any time by unanimous vote the supervisory
committee may recommend to the board of directors the suspension
from office of any member of the credit committee, the credit com-
mittee, any member of the board of directors or any officer elected
by the board. It shall be the duty of the supervisory committee to
forward to the Bank Commissioner of Maryland a copy of all recom-
mendations, charges and findings presented to the board of directors.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved March 22, 1968.

CHAPTER 18
(Senate Bill 107)

AN ACT to repeal and re-enact, with amendments, subsections (a)
and (c) of Section 145 of Article 11 of the Annotated Code of
Maryland (1957 Edition), title "Banks and Trust Companies,"
subtitle "Credit Unions," to authorize the Board of Directors of
a credit union to fix the compensation of the Treasurer and to fix

a time for the Board of Directors to elect certain officers. A

CREDIT UNION TO FIX THE COMPENSATION OF THE
TREASURER, TO FIX A TIME FOR THE BOARD OF DIREC-
TORS TO ELECT CERTAIN OFFICERS, AND TO PROVIDE
THAT THE PRESIDENT OF THE CREDIT UNION SHALL
BE SELECTED FROM AMONG THE DIRECTORS.

Section 1. Be it enacted by the General Assembly of Maryland,
That subsections (a) and (c) of Section 145 of Article 11 of the
Annotated Code of Maryland (1957 Edition), title "Banks and Trust
Companies," subtitle "Credit Unions," be and they are hereby re-
pealed and re-enacted, with amendments, to read as follows:

145.

   (a) At their first meeting in each fiscal year, after the annual

meeting of the members, the board of directors shall elect from