526

LAWS OF MARYLAND

Ch. 33

(II) IF THE COST OF ANY GIFT IS PART OF AN
UNDIVIDED TOTAL PAID TO ONE SUPPLIES FOR TWO OR MORE
DIFFERENT ITEMS, THE COST OF EACH ITEM IS ITS CURRENT
REGULAR SELLING PRICE OR CHARGE, AS EVIDENCED BY A SIGNED
STATEMENT BY THE SUPPLIES.

(B)       GENERAL PROHIBITION.

A SAVINGS AND LOAN ASSOCIATION MAY NOT GIVE OR PROMISE
TO GIVE ANY GIFT TO CUSTOMERS TO PROMOTE MEMBERSHIP OR
ADDITIONAL DEPOSITS EXCEPT IN ACCORDANCE WITH THIS SECTION.

(C)       REGULATION BY BOARD OF COMMISSIONERS.

THE BOARD OF COMMISSIONERS SHALL ESTABLISH THE MAXIMUM
MONETARY VALUE OF ANY GIFT.

(D)       RECORDS.

A SAVINGS AND LOAN ASSOCIATION SHALL KEEP FOR 6 YEARS
RECORDS OF THE MONETARY VALUE OF ANY GIFT.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23, § 161AA.

Throughout this section, the defined term "gift"
is substituted for "giveaway".

As to subsection (a)(2) of this section, the
present provision, "or with any agreement or
undertaking, contingent or otherwise, for
repurchase or redemption, whether total or
partial", is deleted as unnecessary in light of §
9—313 of this title, which prohibits a savings
and loan association from paying a fixed rate,
and prohibits definite rate securities.

In subsection (a)(4)(ii) of this section, "part
of an undivided total paid" is substituted for
"purchased or obtained ... together with, in
connection with, or at the sane time as another
item or other items from the sane supplier not
identical therewith" for brevity.

Also in subsection (a) (4) (ii) , the present phrase
(selling price or charge) "of the supplier on
separate sales or disposition thereof in the
quantity included" is deleted as unnecessary.

In subsection (b) of this section, the phrase "to
promote membership" is substituted for "for the
opening of, maintaining of, or increasing the
amount of, any account" for brevity.

In subsection (b) of this section, the phrase "or
promise to give" is substituted for the phrase in
the definition of "give" in present Art. 23, §