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LAWS OF MARYLAND

Ch. 33

As to present Art. 23, § 161G, see revisor's note
to § 8-301 of this article.

As to the deletion of the word "Building" from
the title, see § 8-301 of this article and its
revisor's note.

REVISOR'S NOTE TO SECTION: Present Art. 23, § 161WW(3),
which defines "Directors" to mean the directors
of the Corporation, and present § 161WW(5), which
defines "insured institution" to mean insured by
the Federal Savings and Loan Insurance

Corporation, are deleted, and, instead, explicit
reference is used throughout this title when
needed.

10-102. CORPORATION ESTABLISHED.

THERE IS A MARYLAND SAVINGS-SHARE INSURANCE

CORPORATION, ESTABLISHED AS A NONPROFIT, NONSTOCK

CORPORATION, THE MEMBERS OF WHICH ARE ASSOCIATIONS THAT ARE
ACCEPTED FOR MEMBERSHIP UNDER THIS TITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of Art. 23, § 161MM.

The phrase "accepted for membership under this
title" is substituted for the present limitation
"eligible ... associations of this State ...",
for accuracy. Under § 10—106 of this title,
membership is not limited to Maryland

associations.

10-103. PURPOSES OF CORPORATION.

THE PURPOSES OF THE CORPORATION ARE TO:

(1)   PROMOTE THE ELASTICITY AND FLEXIBILITY OF
THE RESOURCES OF MEMBERS;

(2)   PROVIDE FOR THE LIQUIDITY OF MEMBERS THROUGH
A CENTRAL RESERVE FUND; AND

(3)   INSURE THE FREE-SHARE SAVINGS ACCOUNTS OF
MEMBERS.

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

In item (3) of this section, the term "savings"
is substituted for "free—share" to conform to
current terminology.

The only other changes are in style.

The term "Corporation" is defined in § 10-101 of