MARVIN MANDEL, Governor                              775

Article — Corporations and Associations

6-227.

(a) (2) The Division Director shall publish
notice of the filing of the plan as provided in the State
Documents Law. IF THE FINANCIAL CONDITION OR STABILITY OF
THE TRANSFEROR IS SUCH THAT A DELAY OF THE MERGER WILL
RESULT IN AN ECONOMIC HARDSHIP TO THE TRANSFEROR, THE
DIVISION DIRECTOR, SUBJECT TO THE APPROVAL OF THE
SECRETARY OF LICENSING AND REGULATION, MAY APPROVE THE
PLAN WITHOUT THE NOTICE REQUIRED BY THE STATE DOCUMENTS
LAW.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved May 4, 1976.

CHAPTER 257

(Senate Bill 123)

AN ACT concerning

Board of Building, Savings and Loan
Association Commissioners

FOR the purpose of [[amending the residency requirement
for eligibility for positions on the Board of
Building, Savings and Loan Association
Commissioners; ]] providing a per diem compensation
for members of the Board; and relating generally to
the Board of building, Savings and Loan Association
Commissioners; and making style changes.

BY repealing and reenacting, with amendments,

Article 23 — Corporations

Section 161E(b)

Annotated Code of Maryland

(1973 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 16lE(b) of Article 23
Corporations, of the Annotated Code of Maryland (1973
Replacement Volume and 1975 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:

Article 23 — Corporations

161E.