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LAWS OF MARYLAND

Ch. 33

PAYMENT TO THE INITIAL GUARANTY FUND SHALL BE:

(1)       MADE IN MONEY; AND

(2)        EVIDENCED BY TRANSFERABLE DEFERRED PAYMENT
CERTIFICATES.

(B) FORM OF CERTIFICATES.

THE APPROVAL OF THE BANK COMMISSIONER IS REQUIRED AS
TO:

(1)       THE FORM OF THE TRANSFERABLE DEFERRED
PAYMENT CERTIFICATES;

(2)       THE RATE OF INTEREST THAT THE HOLDER OF A
CERTIFICATE BILL BE ENTITLED TO RECEIVE; AND

(3)      THE TERMS UNDER WHICH AND THE PRO RATA
INSTALLMENTS BY WHICH THE HOLDER OF A CERTIFICATE WILL BE
REPAID.

REVISOR'S NOTE: This section is new language derived
without substantive change from the introductory
clauses of CA § 6-107(a) and (c)(1) and from CA §
6-107(b).

As to the requirement to have a certificate of
authority to do business, see § 4—207 of this
subtitle.

As to limitations on principal and interest
payments on certificates, see § 4-301(a) of this
title.

4-210. CHARTER AMENDMENTS.

(A)       GENERAL RULE.

ANY SAVINGS BANK MAY AMEND ITS CHARTER IN ANY MANNER
NOT INCONSISTENT WITH LAW, AS PROVIDED IN THIS SECTION.

(B)   APPROVAL BY MEMBERS OR DIRECTORS.

A PROPOSED AMENDMENT SHALL BE APPROVED AT A MEETING
CALLED FOR THAT PURPOSE BY:

(1)       THE AFFIRMATIVE VOTE IN PERSON OR BY PROXY
OF TWO THIRDS OF THE MEMBERS; OR

(2)       IF THERE ARE NO MEMBERS, THE AFFIRMATIVE
VOTE OF TWO THIRDS OF THE BOARD OF DIRECTORS.

(C)       CERTIFICATION AND FILING.

AFTER AN AMENDMENT IS APPROVED BY THE MEMBERS OR THE