HARRY HUGHES, Governor

385

452(b)(4).

In item (2) of this subsection, the present terms
"bonds", "notes", and "contracts" are deleted as
included in "obligations".

The only other changes are in style.

Present Art. 23, § 452(b)(1) is deleted as
unnecessary since its provisions essentially are
repetitive of and add nothing of substance to
those in this subsection.

The term "credit union" is defined in § 7—101 of
this title.

(E)   BUYING AND SELLING PROPERTY.

(1)   THE CORPORATION MAY BUY, LEASE, OR OTHERWISE
ACQUIRE AND SELL, MORTGAGE, LEASE, OR OTHERWISE DISPOSE OF
REAL OR PERSONAL PROPERTY ON THE TERMS THAT ITS BOARD OF
DIRECTORS CONSIDERS ADVISABLE.

(2)   THE CORPORATION MAY ACQUIRE ANY REAL OR
PERSONAL PROPERTY IN SATISFACTION OF DEBTS OR ENFORCEMENT OF
OBLIGATIONS AND MAY DISPOSE OF THAT PROPERTY.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 23, §
452(b)(5).

In paragraph (1) of this subsection, the present
word "receive" is deleted as included in the word
"acquire" and the present word "hold" is deleted
as unnecessary.

Also in paragraph (1) of this subsection, the
present words "convey" and "pledge" are deleted
as included in the phrase "sell, mortgage, lease,
or otherwise dispose of".

Also in paragraph (1) of this subsection, the
present reference to the board of directors is
retained although under § 7-109 of this title,
the board has general management authority.

(F)   STABILIZATION AND LIQUIDATION OF CREDIT UNIONS.
THE CORPORATION MAY:

(1)   ASSIST IN THE MERGER, STABILIZATION,
CONSOLIDATION, OR LIQUIDATION OF CREDIT UNIONS; AND

(2)   TAKE POSSESSION OF AND OPERATE THE BUSINESS
AND ASSETS OF ANY CREDIT UNION IF:

(I) ORDERED TO DO SO BY THE BANK