HARRY HUGHES, Governor

2525

Approved May 19, 1981.

CHAPTER 658

(House Bill 941)

AN ACT concerning

Savings and Loan Associations - Offices

FOR the purpose of clarifying procedures for relocating a
principal or branch office of a savings and loan
association; providing that an applicant for the
establishment or relocation of a savings and loan
principal or branch office pays the expenses of certain
publication; and providing for a change in a time
period for holding a certain hearing.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 9-309

Annotated Code of Maryland

(1980 Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Financial Institutions

9-309.

(a)  A savings and loan association may not establish
or relocate any branch office or relocate a principal office
unless the Division Director approves its application to do
so.

(b)  An application for the establishment or relocation
of a branch office or relocation of a principal office shall
include:

(1)  An application fee of $500 unless the
application is for relocation within a one-half mile radius
of the existing site; and

(2)  A statement of:

(i) The need for the establishment or
relocation;

(ii) The address of the proposed location;