2820

LAWS OF MARYLAND

Ch. 754

(E) IF THE BANK COMMISSIONER DETERMINES THAT THE
VIOLATION OR PRACTICE UNDER SUBSECTION (A) OF THIS SECTION
REQUIRES IMMEDIATE ACTION TO PROTECT DEPOSITORS,
STOCKHOLDERS, OR THE PUBLIC, THE BANK COMMISSIONER:

(1)  MAY ISSUE A CEASE AND DESIST ORDER THAT IS
EFFECTIVE ON SERVICE; AND

(2)  SHALL GIVE THE BANKING INSTITUTION AN
OPPORTUNITY FOR A HEARING TO RESCIND THE ORDER.

5-809.

ON APPLICATION BY THE BANK COMMISSIONER, A COURT OF
COMPETENT JURISDICTION MAY ISSUE AN INJUNCTION TO RESTRAIN A
BANKING INSTITUTION FROM:

(1)  AN UNSAFE OR UNSOUND BANKING PRACTICE;

(2)  A PRACTICE THAT IS INJURIOUS TO THE PUBLIC
INTEREST; OR

(3)  A VIOLATION OF A LAW, RULE, OR REGULATION
THAT RELATES TO THE BANK COMMISSIONER'S SUPERVISION OF THE
INSTITUTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 755

(House Bill 503)

AN ACT concerning

Real Estate Brokers and Salesmen

FOR the purpose of prohibiting certain real estate brokers
and salesmen whose licenses have been revoked under
certain circumstances from any association with a real
estate firm during a certain period; and making
stylistic changes.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 217A(d)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)