3068

LAWS OF MARYLAND

Ch. 856

"Division Director", "capital stock" and "capital
stock association" are defined in § 9-101 of this
title.

"Person" is defined in § 1-101 of this article.

9-324. LIST OF STOCKHOLDERS.

(A)  ANNUAL LIST.

EACH CAPITAL STOCK ASSOCIATION SHALL SEND TO THE
DIVISION DIRECTOR ANNUALLY A LIST OF ALL OF ITS HOLDERS OF
CAPITAL STOCK.

(B)  CONTENT.

THE STOCKHOLDER LIST SHALL INCLUDE AS TO EACH HOLDER OF
CAPITAL STOCK AS SHOWN ON THE ASSOCIATION'S RECORDS:

(1)  NAME;

(2)  ADDRESS; AND

(3)  NUMBER OF SHARES OF CAPITAL STOCK OWNED.

(C)  CONFIDENTIALITY.

THE DIVISION DIRECTOR SHALL KEEP CONFIDENTIAL THE LIST
OF CAPITAL STOCKHOLDERS.

COMMITTEE COMMENT: This section replaces former Art.
23, § 161P(f).

This section makes clear that an association may
treat a holder of record as an owner.

In subsection (b) of this section, the phrase "as
shown on the association's records" was added for
clarity.

Subsection (c) of this section is retained since
corporations in general may keep stockholder
lists confidential, and reporting the list to the
Division Director is viewed as sufficient for
regulatory purposes.

"Capital stock", "capital stock association", and
"Division Director" are defined in § 9-101 of
this title.

9-325. RESERVED.

9-326. RESERVED.

PART V. CAPITAL STRUCTURE OF ASSOCIATIONS — OPERATIONS.