1086                                          LAWS OF MARYLAND                                      Ch. 282

(b) Violations.

(1)  Any person who knowingly submits false
information concerning a net worth certificate is guilty of a
misdemeanor.

(2)  A person who violates this section is subject to
a fine of not more than $5,000 $100,000, or imprisonment IN THE
PENITENTIARY for not more than 5 10 years, or both.

(3) ANY PERSON WHO VIOLATES THIS SECTION IS LIABLE
CIVILLY TO ANY ASSOCIATION, ENTITY, SHAREHOLDER, THE STATE, OR
OTHER PERSON DAMAGED BY THE VIOLATION.

Subtitle 3. Organization and Capitalization

Part I. Organization

9-301. Member.

(a)  "Member" defined.

A member of a savings and loan association means a holder,
as shown on the association's records, of:

(1)  One or more savings accounts, as to a mutual
association; and

(2)  One or more shares of capital stock, as to a
capital stock association.

(b)  Multiple holders.

(1)  Multiple holders of a single account or share of
capital stock shall be considered a single member.

(2)  Notice to one holder of a multiple name account
or share of capital stock is sufficient notice to all holders.

9-302. Directors.

(a)  Management of association.

The business and affairs of a savings and loan association
shall be managed under the direction of a board of directors.

(b)  Number.

A savings and loan association shall have at least 5
directors, as its charter or bylaws provide.

(c)  Qualifications.

(1) Each director of a savings and loan association

shall be: