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2224 LAWS OF MARYLAND Ch. 678
(a) Subject to the regulations of the Board of
Commissioners, a savings and loan association may invest in any
of the following types of investments:
[(11) Deposits in or obligations of:
(i) Any insured financial institution of this
State; or
(ii) Any insured financial institution of any
state, after the investing savings and loan association has total
deposits in all branches which exceed an amount equal to $100,000
times the number of chartered savings and loan associations in
the State;]
(11) DEPOSITS IN ANY OTHER FINANCIAL INSTITUTION,
PROVIDED THE DEPOSITS ARE EACH DEPOSIT IS INSURED BY ONE OF THE
FOLLOWING:
(I) THE FEDERAL SAVINGS AND LOAN INSURANCE
CORPORATION;
(II) THE MARYLAND SAVINGS-SHARE INSURANCE
CORPORATION;
(III) ANY OTHER INSURER UNDER A STATE INSURANCE
PROGRAM PROVIDED THAT THE INSURER IS A MEMBER OF THE NATIONAL
ASSOCIATION OF STATE SAVINGS INSURERS;
(IV) THE MARYLAND CREDIT UNION INSURANCE
CORPORATION; OR
(V) THE NATIONAL CREDIT UNION SHARE INSURANCE
FUND;
(C) THIS SECTION DOES NOT PROHIBIT A STATE CHARTERED
SAVINGS AND LOAN ASSOCIATION FROM MAKING ANY INVESTMENT THAT IS
PERMISSIBLE FOR A FEDERAL SAVINGS AND LOAN ASSOCIATION.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 31, 1983.
CHAPTER 679
(House Bill 344)
AN ACT concerning
Program Open Space
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