1088                                          LAWS OF MARYLAND                                      Ch. 282

9-306. [Annual statements of financial condition and
remuneration.] STATEMENT OF FINANCIAL CONDITION,

(a)   [Annual statement] STATEMENT of financial condition.

A statement of the financial condition of a savings and loan
association shall be:

(1)  Prepared [annually] QUARTERLY; [and]

(2)  Submitted at [the annual] A meeting OF THE BOARD
OF DIRECTORS OF THE ASSOCIATION THAT IS HELD WITHIN 30 DAYS AFTER
THE END OF THE QUARTER; AND

(3)  SUBMITTED TO THE DIVISION DIRECTOR WITHIN 30 DAYS
AFTER THE END OF THE QUARTER.

(b)  Statements filed after [annual] meeting.
A savings and loan association shall:

(1)  Send or provide the [annual] QUARTERLY statement
of financial condition AND A CURRENT LIST OF THE NAMES OF
CONTROLLING PERSONS to any person on request; and

(2)  Within 20 days after the [annual] BOARD OF
DIRECTORS meeting:

(i) Have the [annual] QUARTERLY statement of
financial condition AND A CURRENT LIST OF THE NAMES OF
CONTROLLING PERSONS available at each of its offices In this
State; and

(ii) Send a QUARTERLY statement of the
salaries, fees, DIVIDENDS, COMPENSATION UNDER § 9-307(I) OF THIS
SUBTITLE, and expense accounts, AND ANY LOANS PERMITTED UNDER §
9-307(D) OF THIS SUBTITLE paid OR MADE to EACH OF the officers,
[and] directors, AND CONTROLLING PERSONS of the association AND A
CURRENT LIST OF THE NAMES OF THE OFFICERS, DIRECTORS, AND
CONTROLLING PERSONS OF THE ASSOCIATION, certified by an officer
of the association, to the Division Director, who shall make them
available to any member OR DEPOSITOR on request.

(C) PUBLICATION OF SUMMARY OF STATEMENT.

(1) AT LEAST ONCE EACH YEAR, A SAVINGS AND LOAN
ASSOCIATION SHALL:

(I) PUBLISH A SUMMARY OF THE STATEMENT OF
FINANCIAL CONDITION IN A NEWSPAPER PUBLISHED IN THE COUNTY WHERE
THE ASSOCIATION HAS ITS PRINCIPAL OFFICE; AND

(II) SUBMIT PROOF OF PUBLICATION OF THE SUMMARY
TO THE DIVISION DIRECTOR.