1048                                          LAWS OF MARYLAND                                      Ch. 282

THE BOARD OF COMMISSIONERS SHALL GIVE THE DIVISION DIRECTOR
SOUND AND IMPARTIAL ADVICE ON:

(1)  THE APPROVAL OR DISAPPROVAL OF APPLICATIONS BY AN
ASSOCIATION;

(2)  HOW TO PROTECT THE INTERESTS OF THE GENERAL
PUBLIC AND OF DEPOSITORS AND STOCKHOLDERS IN ASSOCIATIONS; AND

(3)  ANY PROPOSED LAW. REGULATION. OR OTHER MATTER
CONCERNING THE BUSINESS OF SAVINGS AND LOAN ASSOCIATIONS IN THIS
STATE.

(C) STATEMENT IF ADVICE NOT FOLLOWED.

IF THE DIVISION DIRECTOR DOES NOT FOLLOW THE ADVICE OF THE
BOARD OF COMMISSIONERS, THE DIVISION DIRECTOR SHALL SEND TO THE
BOARD OF COMMISSIONERS AND THE SECRETARY A WRITTEN STATEMENT OF
THE REASON FOR THE ACTION.

[8-204. Officers.

(a)  Chairman.

With the approval of the Governor, the Secretary shall
designate one of the members of the Board of Commissioners as its
chairman.

(b)  Vice chairman; secretary.

The Board of Commissioners shall elect a vice chairman and a
secretary of the Board from among the members.]

[8-205.] 8-204. Meetings [and hearings; records],

[(a) Regular meetings; hearings.

The Board of Commissioners shall:

(1)  Meet at the time and place that it determines;
and

(2)  Adopt rules for the conduct of its meetings and
hearings.

(b)  Special meetings.

A special meeting of the Board of Commissioners may be
called:

(1)  By the chairman; or

(2)  At the request of four members of the Board.

(c)  Records.