416

LAWS OF MARYLAND

Ch. 33

examined" for clarity. The term "records" is
substituted for "book, paper or other document".

The General Assembly may wish to consider whether
the subpoena power should include expressly areas
of modern recordkeeping such as automatic data
processing products.

"Board of Commissioners" and "Division Director"
are defined in § 8-101 of this title.

8-404. FINAL ORDER OF BOARD OF COMMISSIONERS.

WITHIN 30 DAYS AFTER THE HEARING OF THE BOARD OF
COMMISSIONERS, THE BOARD SHALL:

(1)       SUSTAIN, REJECT, OR MODIFY THE DIVISION
DIRECTOR'S ORDER;

(2)       ISSUE A FINAL ORDER IN THE MATTER; AND

(3)      AS PROVIDED IN § 8-401 OF THIS SUBTITLE,
MAIL A COPY OF ITS FINAL ORDER TO EACH SAVINGS AND LOAN
ASSOCIATION THAT IS A PARTY TO THE PROCEEDINGS OF THE ORDER.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last sentence
of Art. 23, § 161H(c).

In item (1) of this section, the tern "Division
Director's" is added for clarity.

As to item (3) of this section, note that the
Board of Commissioners provides a procedure for a
party to become an intervenor party to the
proceedings.

"Board of Commissioners", "Division Director",
and "savings and loan association" are defined in
§ 8-101 of this title.

8-405. APPEAL FROM FINAL ORDER OF THE BOARD OF
COMMISSIONERS.

ANY SAVINGS AND LOAN ASSOCIATION THAT IS A PARTY TO THE
BOARD OF COMMISSIONERS' PROCEEDINGS OR THE HOLDERS OF AT
LEAST 10 PERCENT OF THE PAR VALUE OF THE FREE SHARES OF THE
SAVINGS AND LOAN ASSOCIATION MAY APPEAL FROM THE ORDER TO
THE CIRCUIT COURT FOR THE COUNTY WHERE THE ASSOCIATION HAS
ITS PRINCIPAL BUSINESS OFFICE IN THIS STATE.

REVISOR'S NOTE: This section presently appears as Art.
23, § 161H(d) .

"Any savings and loan association that is a party
to the Board of Commissioners' proceedings" is
substituted for the phrase "{t}he association