HARRY HUGHES, Governor

1057

(1)  SUBPOENA WITNESSES AND ADMINISTER OATHS OR
AFFIRMATIONS IN THE EXAMINATION OF ANY CONTROLLING PERSON,
DIRECTOR, OFFICER, EMPLOYEE, OR AGENT OF AN ASSOCIATION OR
RELATED ENTITY, OR OF ANY OTHER PERSON IN RELATION TO THE
AFFAIRS, TRANSACTIONS, AND CONDITIONS OF THE ASSOCIATION OR
RELATED ENTITY;

(2)  REQUIRE THE PRODUCTION OF RECORDS, BOOKS, PAPERS,
CONTRACTS, AND OTHER DOCUMENTS; AND

(3)  ISSUE SUBPOENAS DUCES TECUM;

8-309. ANNUAL REPORT TO GOVERNOR, GENERAL ASSEMBLY, AND
SECRETARY; RECOMMENDATION ON LEGISLATION.

(A)  ON JUNE 30 OF EACH YEAR, THE DIVISION DIRECTOR SHALL
PROVIDE A WRITTEN REPORT TO THE GOVERNOR AND THE SECRETARY OF
LICENSING AND REGULATION ON: (1) ON JUNE 30 OF EACH YEAR, OR
MORE FREQUENTLY AS REQUESTED AT THE DISCRETION OF THE DIVISION
DIRECTOR OR AS CIRCUMSTANCES WARRANT, THE DIVISION DIRECTOR SHALL
PROVIDE A WRITTEN REPORT TO THE GOVERNOR, THE PRESIDENT OF THE
SENATE, THE SPEAKER OF THE HOUSE OF DELEGATES, AND THE SECRETARY
OF LICENSING AND REGULATION ON;

(1) (I) THE OPERATIONS OF THE DIVISION DIRECTOR'S
OFFICE;

(2) (II) THE CONDITION OF THE SAVINGS AND LOAN
INDUSTRY, INCLUDING ANY MATERIAL VIOLATIONS OF THIS SUBTITLE OR
TITLE 9 OF THIS ARTICLE AND THE REGULATIONS ADOPTED UNDER THOSE
TITLES; AND

(3) (III) AS TO THE LAWS THAT THE DIVISION DIRECTOR
ADMINISTERS, AMENDMENTS THAT THE DIVISION DIRECTOR CONSIDERS
DESIRABLE.

(B) (2) THE REPORT IS CONFIDENTIAL AND IS NOT SUBJECT TO
DISCLOSURE IN ACCORDANCE WITH THE PROVISIONS OF § 10-617 OF THE
STATE GOVERNMENT ARTICLE.

(B) (1) ON JUNE 30 OF EACH YEAR, THE DIVISION DIRECTOR
SHALL SUBMIT A REPORT TO THE GENERAL ASSEMBLY IN ACCORDANCE WITH
§ 2-1312 OF THE STATE GOVERNMENT ARTICLE DESCRIBING:

(I) THE OPERATIONS OF THE DIVISION DIRECTOR'S
OFFICE;

(II) THE GENERAL CONDITION OF THE SAVINGS AND
LOAN INDUSTRY; AND

(III) ANY RECOMMENDED LEGISLATIVE CHANGES.

(2) THE REPORT MAY INCLUDE A SUMMARY OF FINAL
ENFORCEMENT ACTIONS TAKEN BY THE DIVISION DIRECTOR BUT MAY NOT