MARVIN MANDEL, Governor

1825

(3)   SET THE TIME AND AMOUNT OF NOT MORE THAN
$1 PER WEEK TO BE PAID FOR INSTALLMENTS ON EACH SHARE;
AND

(4)   SET FINES AND FORFEITURES BY WHICH THE
SAVINGS AND LOAN ASSOCIATION MAY ENFORCE PAYMENT OF ANY
INSTALLMENT, LEGAL INTEREST, PREMIUM, AND OTHER DUES OF A
MEMBER OR STOCKHOLDER.

REVISOR'S NOTE: This subsection is new language
derived without substantive change from Art.
23, §§144 and 146.

In item (4) of this subsection, the words
"legal interest, premium" are added to conform
with Art. 23, §154 of the Code.

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

(B) BYLAWS.

THE BYLAWS OF A SAVINGS AND LOAN ASSOCIATION MAY
SPECIFY A QUORUM FOR ANNUAL OR SPECIAL MEETINGS OF ITS
MEMBERS.

REVISOR'S NOTE: This subsection is new language
derived without substantive change from the
last sentence of Art. 23, §161Q.

6-223. REVIVAL OF CHARTER.

(A)   ARTICLES OF REVIVAL.

A SAVINGS AND LOAN ASSOCIATION WHICH FORFEITS ITS
CHARTER FOR NONPAYMENT OF TAXES OR FOR FAILURE TO FILE AN
ANNUAL REPORT WITH THE STATE DEPARTMENT OF ASSESSMENTS
AND TAXATION MAY REVIVE THE CHARTER IN ACCORDANCE WITH
TITLE 3, SUBTITLE 5 OF THIS ARTICLE IF THE DIVISION
DIRECTOR APPROVES THE ARTICLES OF REVIVAL UNDER THE TERMS
AND CONDITIONS ESTABLISHED BY RULES OR REGULATIONS OF THE
BOARD OF COMMISSIONERS.

(B)   APPEAL.

ANY SAVINGS AND LOAN ASSOCIATION WHICH IS AGGRIEVED
BY THE ACTION OF THE DIVISION DIRECTOR MAY APPEAL IN
ACCORDANCE WITH ARTICLE 23, §161H OF THE CODE.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23,
§161BB.

The words "Board of Commissioners," "division