HARRY HUGHES, Governor

5

(2)  SPECIFY THE TERMS AND CONDITIONS UNDER WHICH ANY
CLOSED SAVINGS AND LOAN ASSOCIATION MAY REOPEN;

(3)  ESTABLISH TERMS AND CONDITIONS FOR THE LIMITED
OPERATION OF ONE OR MORE SAVINGS AND LOAN ASSOCIATIONS AFFECTED
BY THE EMERGENCY, INCLUDING BUT NOT LIMITED TO LIMITATIONS ON
WITHDRAWALS, HOURS, INTEREST RATES, AND TYPES OR TERMS OF
TRANSACTIONS;

(4)  PROVIDE A PROCEDURE FOR AND MAKE SUCH ADJUSTMENTS
AND EXCEPTIONS AS MAY BE NECESSARY TO PREVENT INEQUITIES AND
UNDUE HARDSHIPS;

(5)  ADOPT PROCEDURES OR LIMITATIONS CONCERNING THE
PAYMENT OR NONPAYMENT OF NEGOTIABLE INSTRUMENTS, INCLUDING FEES
IMPOSED, AND LIABILITY OR IMMUNITY FOR WRONGFUL DISHONOR;

(6)  EXERCISE THE POWERS OF ONE OR MORE OF THE BOARD
OF SAVINGS AND LOAN COMMISSIONERS, THE DIRECTOR OF THE DIVISION
OF SAVINGS AND LOAN ASSOCIATIONS, AND THE DIRECTOR OF THE
MARYLAND DEPOSIT INSURANCE FUND CORPORATION UNDER TITLES 9 AND 10
OF THE FINANCIAL INSTITUTIONS ARTICLE;

(7)  ISSUE ANY APPROPRIATE CEASE AND DESIST ORDER; AND'

(8)  EXCEPT FOR THE POWER TO DECLARE AN EMERGENCY,
DELEGATE THE PERFORMANCE OF ANY FUNCTION UNDER THIS SECTION TO
SUCH OFFICERS, DEPARTMENTS, AND AGENCIES OF THE STATE AS DEEMED

APPROPRIATE.                                                                                                         

(C) (1) THE GOVERNOR SHALL NOTIFY THE LEGISLATIVE POLICY
COMMITTEE WITHIN 48 HOURS AFTER THE EXERCISE OF THE POWERS UNDER
THIS SECTION.

(2) THE LEGISLATIVE POLICY COMMITTEE SHALL ASSIGN THE
EXECUTIVE ORDER FOR REVIEW TO THE APPROPRIATE STANDING
COMMITTEES.

(D)  A PERSON WHO KNOWINGLY VIOLATES ANY PROVISION OF AN
EXECUTIVE ORDER ISSUED UNDER THIS SECTION OR WHO, IN ANY MATTER
RELATING TO AN EMERGENCY UNDER THIS SECTION, KNOWINGLY AND
WILLFULLY SUBMITS FALSE INFORMATION TO ANY PERSON OR GOVERNMENTAL
ENTITY IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS SUBJECT TO
A FINE OF NOT MORE THAN $5,000, OR IMPRISONMENT FOR NOT MORE THAN
5 YEARS, OR BOTH.

(E)  THE AUTHORITY CONTAINED IN SUBSECTION (B) OF THIS
SECTION EXPIRES ON JULY 1, 1986.

SECTION 2. AND BE IT FURTHER ENACTED, That the authority
conferred in Section 1 of this Act shall be in addition to the
powers specified in Article 41, §§ 15B through 15B-2 of the Code
and may not be regarded as in derogation of those powers. The
General Assembly hereby ratifies and confirms all the actions