1822

LAWS OF MARYLAND

[Ch. 311

The provisions of present §161P(c)(4) which
relate to the rate of dividends are
transferred to Art. 23, §161FF for eventual
allocation to the Business Regulation Article.

The term "savings and loan association" is
defined in §6—201(g) of this subtitle.

6-218. NAME OF SAVINGS AND LOAN ASSOCIATION.

(A)   NAME IN GENERAL.

THE NAME OF THE SAVINGS AND LOAN ASSOCIATION:

(1)      EXCEPT AS PROVIDED IN §6-213 (C)(1) OF
THIS SUBTITLE, IS NOT REQUIRED TO INDICATE THAT IT IS A
CORPORATION; AND

(2)      SUBJECT TO THE [[PROVISIONS]] PROVISIONS
OF §6-213 (C)(1) OF THIS SUBTITLE, SHALL CONTAIN ONE OF
THE FOLLOWING PHRASES OR A COMBINATION OF THEM:

(I)      "SAVINGS ASSOCIATION";

(II)       "BUILDING ASSOCIATION";

(III)  "SAVINGS AND LOAN ASSOCIATION";

(IV)   "BUILDING AND LOAN ASSOCIATION";

(V)    "BUILDING AND HOMESTEAD ASSOCIATION".

(B)   PROHIBITION.

ONLY A CORPORATION WHICH COMPLIES WITH THE
PROVISIONS OF THIS SUBTITLE MAY USE ANY NAME DESCRIBED IN
SUBSECTION (A)(2) OF THIS SECTION.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23,
§§161N and 16lP(d)(1) and (5).

The provisions of §6—213(c)(1) of     this

subtitle require a savings and         loan

association with guaranty stock to use   with

its name the phrase "stock corporation"     and

prohibit use with its name of the     word

"association." Also, see the revisor's     note
to §6-101 (g) of this subtitle.

The term "savings and loan association" is
defined in §6-201(g) of this subtitle.

6-219.

MEMBERSHIP IN A SAVINGS AND LOAN ASSOCIATION.