386                                               LAWS OF MARYLAND                                       Ch. 33

COMMISSIONER UNDER § 6-307 OF THIS ARTICLE; OR

(II) THE CREDIT UNION'S MEMBERSHIP IN THE
CORPORATION IS REVOKED.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 23, §
452(b)(9) and (10).

In item (2) of this subsection, the present
phrase "in accordance with any recommendations
that the {Bank Commissioner} may offer" is
deleted as unnecessary in light of the general
provisions of subsection (a) of this section to
the same effect.

(G) MEMBERSHIP IN NATIONAL ORGANIZATIONS.

THE CORPORATION MAY BECOME A MEMBER OF THE NATIONAL
INTERNATIONAL SHARE AND DEPOSIT GUARANTY CORPORATION
ASSOCIATION, INC. OR ANY COMPARABLE ORGANIZATION.

REVISOR'S NOTE: This subsection is new language derived
from Art. 23, § 452(b)(11).

The reference to the International Share and
Deposit Guaranty Association, Inc. is substituted
for the reference to the National Share and
Deposit Guaranty Corporation, which failed to
complete incorporation.

The only other changes are in style.

(H) INVESTMENTS.

THE CORPORATION MAY INVEST ANY OF ITS FUNDS IN:

(1)   CASH OR DEPOSITS IN CHECKING OR SAVINGS
ACCOUNTS WITH OR CERTIFICATES OF DEPOSIT OF:

(I)   ANY BANK THAT IS A MEMBER OF THE
FEDERAL DEPOSIT INSURANCE CORPORATION; AND

(II)   ANY SAVINGS AND LOAN ASSOCIATION THAT
IS A MEMBER OF THE FEDERAL SAVINGS AND LOAN INSURANCE
CORPORATION, THE MARYLAND SAVINGS-SHARE INSURANCE
CORPORATION, OR A SIMILAR INSURANCE PROGRAM;

(2)   CASH OR DEPOSITS IN SHARE OR DEPOSIT
ACCOUNTS WITH OR CERTIFICATES OF DEPOSIT OR NOTES OF ANY
CREDIT UNION THAT IS A MEMBER OF THE CORPORATION, THE
NATIONAL CREDIT UNION ADMINISTRATION SHARE INSURANCE
PROGRAM, OR A SIMILAR INSURANCE PROGRAM;

(3)   OBLIGATIONS OF:

(I) THE UNITED STATES, ANY STATE, OR ANY