|
HARRY HUGHES, Governor 19
insurance under the Fund, with certain exceptions; providing
for certain procedures for application to the Fund by a
savings and loan association; providing for certain
assessments and nonrefundable premiums; stating certain
State policy; exempting the Fund from certain provisions of
law; restricting the membership of savings and loan
associations in the Fund to certain time frames and
conditions; providing for the appointment of a conservator
or receiver under certain conditions; defining certain
terms; providing that the Maryland Savings-Share Insurance
Corporation shall be merged with the Fund and that the Fund
shall be the surviving corporation; providing that savings
and loan associations which were members of the Maryland
Savings-Share Insurance Corporation automatically become
members of the Fund; providing that all of the income and
surplus of the Fund shall inure to the State of Maryland;
granting immunity from claims and liabilities to certain
persons under certain conditions; providing that this Act is
an emergency measure; providing a certain penalty for a
violation of this Act; and generally relating to the
Maryland Deposit Insurance Fund Corporation and savings and
loan associations.
BY repealing and reenacting, with amendments,
Article 41 - Governor - Executive and Administrative
Departments
Section 221A(a)
, Annotated Code of Maryland
(1982 Replacement Volume and 1984 Supplement)
BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 9-709 and 9-901
Annotated Code of Maryland
(1980 Volume and 1984 Supplement)
BY repealing
Article - Financial Institutions
Section 10-101 through 10-117, inclusive, and the title
"Title 10. Maryland Savings-Share Insurance
Corporation"
Annotated Code of Maryland
(1980 Volume and 1984 Supplement)
BY adding to
Article - Financial Institutions
Section 10-101 through 10-118 10-119, inclusive, to be under
the new title "Title 10. Maryland Deposit Insurance
Fund Corporation"
|
