2806                                 LAWS OF MARYLAND                               Ch. 807

The bylaws of a savings bank shall provide for annual
meetings of the members to [elect]:

(1)  ELECT directors [and];

(2)  ELECT members, UNLESS THE CHARTER OF THE
SAVINGS BANK PROVIDES FOR A DIFFERENT METHOD OF ELECTING
MEMBERS; and

(3)  [to transact] TRANSACT other business.

5-401.

(b) "Affiliate" means any association, corporation,
business trust, or other similar organization that:

(1)  Is controlled by a banking institution
through:

(i) Direct or indirect ownership or
control of more than 50 percent of the voting rights;

(ii) Control of the election of a majority
of the management;

(iii) Direct or indirect ownership or
control of more than 50 percent of the voting rights
exercised at the last election of the management;

(iv) Directors of the banking institution
constituting a majority of the management of the
organization; or

(v) Any direct or indirect control by
[shareholders] STOCKHOLDERS of the banking institution, if
the [shareholders] STOCKHOLDERS own or control:

1.  More than 50 percent of the
voting rights in the banking institution; or

2.  More than 50 percent of the
voting rights exercised at the last election of directors of
the banking institution; or

(2)  Controls a banking institution through:

(i) Direct or indirect ownership or
control of more than 50 percent of the voting rights;

(ii) Control of the election of a majority
of the directors of the banking institution;

(iii) Direct or indirect ownership or
control of more than 50 percent of the voting rights
exercised at the last election of the directors; or