82                                                  LAWS OF MARYLAND                                     Ch. 5

(4) §§ 9-627 THROUGH 9-630, INCLUSIVE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is
hereby declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety and having
been passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its
passage.

Approved October 25, 1985.

CHAPTER 6

(Senate Bill 3)

AN ACT concerning

State Division of Savings and Loan Associations -
Director - Qualifications

FOR the purpose of repealing the requirement that the Director of
the Division of Savings and Loan Associations be a resident
and registered voter of the State; and providing that this
Act is an emergency measure.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 8-302

Annotated Code of Maryland

(1980 Volume and 1985 Supplement)

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

Article - Financial Institutions

8-302.

(a) (1) The head of the Division of Savings and Loan
Associations is the Division Director, who shall be appointed by
the Secretary with the approval of the Governor.

(2) The Secretary shall appoint a Division Director
from a list of three qualified nominees submitted by the Board of
Commissioners. The list of nominees shall be submitted to the
Secretary within 15 days after a vacancy occurs in the office of
Division Director.