522                                               LAWS OF MARYLAND                                       Ch. 33

REVISOR'S NOTE: This section is new language derived
without substantive change from the last clause
of the second sentence of Art. 23, § 156 and from
Art. 23, § 161B(b).

The phrase "subject to the authority of the Board
of Commissioners" is added for clarity.

"Foreign association" is defined in § 9-801 of
this subtitle.

"Board of Commissioners" and "savings and loan
association" are defined in § 9—101 of this
title.

9-805. SECURITY AGAINST CLAIMS.

THE STATE TREASURER SHALL HOLD ANY DEPOSIT MADE UNDER §
9-803(B)(2)(I)         OF THIS SUBTITLE AS SECURITY FOR THE

SATISFACTION OF ANY CLAIMS OF A RESIDENT OF THIS STATE
AGAINST THE FOREIGN ASSOCIATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from part of the
second sentence of Art. 23, § 156.

The phrase "as security" is added for clarity.

The phrase "against the foreign association" is
added for clarity.

"Foreign association" is defined in § 9—801 of
this subtitle.

9-806. RELOCATION OF PERMITTED OFFICE.

(A) RELOCATION.

SUBJECT TO § 9-307 OF THIS TITLE AND THE APPROVAL OF
THE DIVISION DIRECTOR, A FOREIGN ASSOCIATION OR ANY MARYLAND
SAVINGS AND LOAN ASSOCIATION THAT MAINTAINS ITS PRINCIPAL
OFFICE OUTSIDE THIS STATE MAY RELOCATE AN OFFICE IN THIS
STATE IF:

(1)       THE OFFICE WAS OPEN BEFORE MARCH 2, 1955;
AND

(2)       THE RELOCATION IS WITHIN:

(I)       THE SAME COUNTY; AND

(II)       A ONE-MILE RADIUS OF THE RELOCATING
OFFICE.

(B) APPEAL.