HARRY HUGHES, Governor

3023

uniform procedures for various types of conversion-
permitting greater flexibility to obtain funds through
investments; providing certain powers that will enable
a State-chartered association to compete more equitably
with federal associations; permitting associations to
offer alternative forms of mortgage instruments, pay
higher dividends or interest on savings and classify
its accounts; clarifying administrative procedures;
encouraging investment in this State by foreign
associations by providing that making loans in this
State does not constitute doing business; clarifying
the existing prohibition against a foreign association
having an office or doing business in this state-
providing regulatory authority with flexibility in
areas of rapid change; clarifying the use of electronic
terminals; prohibiting defamation of associations and
providing certain penalties; and generally relating to
savings and loan associations, and providing for the
effect construction, and effective date of the
provisions of this Act.

BY repealing

Article - Financial Institutions

Section 9-101 through 9-910, being Title "9 Savings and

Loan Associations" in its entirety
Annotated Code of Maryland

(As enacted by Chapter____ (H.B. 1) of the Acts

of the General Assembly of 1980)

BY adding to

Article - Financial Institutions

Section 9-101 through 9-908, being Title "9 Savings and

Loan Associations"
Annotated Code of Maryland

(As enacted by Chapter ____ (H.B. 1) of the Acts

of the General Assembly of 1980)

       SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 9-101 through 9-910, being Title "9
Savings and Loan Associations", in its entirety, of Article
- Financial institutions of the Annotated Code of Maryland

(as enacted by Chapter ____ of the Acts of the General

Assembly of 1980) be repealed.

            SECTION 2. AND BE IT FURTHER ENACTED, That sections

9-101 through 9-908, being Title "9 Savings and Loan

Associations" of Article - Financial Institutions of the

Annotated Code of Maryland (as enacted by Chapter ___of

the Acts of the General Assembly of 1980) be repealed

amended, or enacted to read as follows:                           

Article - Financial Institutions