MARVIN MANDEL, Governor                        687

(c)  That the bank statements were examined and found to be in
agreement with the reconciliation thereof.

(d)  That the dates of deposits as shown on the bank statements
were checked with the collection sheets, showing that collections
have been deposited promptly.

(e)  That the balance of the checkbook on (date) plus all out-
standing checks agreed with the balance shown on the (date) bank
statement.

(f)  That new notes for personal loans during the period audited
were examined and compared with the loan accounts.

(g)  That new loan applications for the period audited were found
to be in good order as required by the bylaws.

(h) That all loans one month or more in arrears (delinquent) were
listed for submission to the board of directors for action.

(i) That share, deposit and loan accounts were found to be posted
up to date.

(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' meeting 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 mem-
bers to be verified with the records of the treasurer. The com-
mittee shall maintain a record of the verification.

It shall fill vacancies in the committee until the next regular
meeting of the [members] board. 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 committee] 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 recommendations, charges and findings presented to the
board of directors.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1969.

Approved April 23, 1969.