404                                                LAWS OF MARYLAND                                        Ch. 33

"Board of Commissioners" is defined in § 8—101 of
this title.

8-207. POWERS AND DUTIES.

(A)       GENERAL AUTHORITY OF THE BOARD.

THE BOARD OF COMMISSIONERS EXERCISES ITS POWERS AND
PERFORMS ITS DUTIES SUBJECT TO THE AUTHORITY OF THE
SECRETARY.

(B)       RULES AND REGULATIONS.

THE BOARD OF COMMISSIONERS MAY ADOPT RULES AND
REGULATIONS TO CARRY OUT THE PROVISIONS OF THIS ARTICLE THAT
RELATE TO SAVINGS AND LOAN ASSOCIATIONS.

(C)       MISCELLANEOUS POWERS.

THE BOARD OF COMMISSIONERS MAY:

(1)       ADVISE AND MAKE RECOMMENDATIONS TO THE
DIVISION DIRECTOR ON ANY MATTER WITHIN THE SCOPE OF THE
DIVISION DIRECTOR'S AUTHORITY;

(2)       RECOMMEND TO THE SECRETARY ANY CHANGES THAT
IT CONSIDERS DESIRABLE IN THE LAWS GOVERNING SAVINGS AND
LOAN ASSOCIATIONS; AND

(3)       AS TO SAVINGS AND LOAN ASSOCIATIONS,
DETERMINE PROCEDURES AND STANDARDS FOR:

(I)       EXAMINATIONS;

(II)   VALUATION OF ASSETS; AND

(III)   ADVERTISING AND PROMOTIONAL
ACTIVITIES.

(D)   SEAL.

THE BOARD OF COMMISSIONERS SHALL HAVE A SEAL BEARING
THE INSCRIPTION "BOARD OF SAVINGS AND LOAN ASSOCIATION
COMMISSIONERS OF THE STATE OF MARYLAND".

REVISOR'S NOTE: This section is new language derived
without substantive change from the last part of
the first sentence and the entire second sentence
of Art. 23, § 161E(a) and from Art. 23, § 161E(c)
and (e)(3)(i) through (iv).

In subsection (a) of this section, the present
references to the Board having all the powers
provided by law and "as necessary to the full and
effectual execution of the purposes of this
article" are deleted as unnecessary.