HARRY HUGHES, Governor

529

See also § 1-101 of this article for other
applicable definitions.

(B)   ASSOCIATION.
"ASSOCIATION" MEANS:

(1)   ANY SAVINGS AND LOAN ASSOCIATION THAT IS
INCORPORATED UNDER THE LAWS OF THIS STATE; AND

(2)   ANY OTHER SAVINGS AND LOAN ASSOCIATION THAT
IS AUTHORIZED TO DO BUSINESS IN THIS STATE, HAS ITS
PRINCIPAL OFFICE IN THIS STATE, AND HAS 75 PERCENT OF ITS
TOTAL ASSETS INVESTED IN ACCORDANCE WITH TITLE 9, SUBTITLE 4
OF THIS ARTICLE.

REVISOR'S NOTE: This subsection presently appears as
Art. 23, § 161WW(4).

In item (2) of this subsection, the present
reference to Art. 23, §§ 150 and 160Z is deleted
as obsolete since those sections have been
repealed.

The only other changes are in style.

Note that a savings and loan association
chartered in any other state is not permitted now
to have any office in this State.

(C)      CORPORATION.

"CORPORATION" MEANS THE MARYLAND SAVINGS-SHARE
INSURANCE CORPORATION.

REVISOR'S NOTE: This subsection presently appears as
Art. 23, § 161WW(1).

The only changes are in style.

(D)       DIVISION DIRECTOR.

"DIVISION DIRECTOR" MEANS THE DIRECTOR OF THE DIVISION
OF SAVINGS AND LOAN ASSOCIATIONS.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 23, §
161WW(2).

The present references to the "State Department
of Assessments and Taxation" and "Department of
Building, Savings and Loan Associations" are
deleted as obsolete.

The present reference to Art. 23, § 160F is
deleted as obsolete.