HARRY HUGHES, Governor

2125

CHAPTER 292

(House Bill 335)

AN ACT concerning

Savings and Loan Associations - Statement
of Financial Condition

FOR the purpose of requiring savings and loan associations to
send or provide an annual statement of financial condition
to any person on request; and generally relating to annual
statements of financial condition which are provided by
savings and loan associations.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 9-306

Annotated Code of Maryland

(1980 Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

9-306.

(a)  A statement of the financial condition of a savings and
loan association shall be:

(1)  Prepared annually; and

(2)  Submitted at the annual meeting.

(b)  A savings and loan association shall:

(1)  Send OR PROVIDE the annual statement of financial
condition to any [member] PERSON on request; and

(2)  Within 20 days after the annual meeting:

(i) Have the annual statement of financial
condition available at each of its offices in this State; and

(ii) Send a. statement of the salaries, fees,
and expense accounts paid to the officers and directors of the
association, certified by an officer of the association, to the
Division Director, who shall make them available to any member on
request.