1100                                          LAWS OF MARYLAND                                      Ch. 282

(4)  THE SIZE OF THE ASSOCIATION OR SUBSIDIARY, AND
THE COMPLEXITY OF ITS OPERATIONS;

(5)  THE FINANCIAL CONDITION, INCLUDING INCOME, OF THE
ASSOCIATION OR SUBSIDIARY AND THE INDIVIDUAL'S CONTRIBUTION TO
THE FINANCIAL CONDITION;

(6)  ANY AMOUNTS RECEIVED, EITHER DIRECTLY OR
INDIRECTLY, BY AN OFFICER WHOSE PRINCIPAL OCCUPATION IS WITH THE
ASSOCIATION OR SUBSIDIARY FOR OTHER SERVICES PERFORMED FOR THE
ASSOCIATION OR SUBSIDIARY; AND

(7)  THE VALUE OF PERSONAL FRINGE BENEFITS PROVIDED TO
THE OFFICER.

(C)  OUTSIDE OFFICIALS.

WITH RESPECT TO FEES OF OUTSIDE ACCOUNTANTS, APPRAISERS,
ATTORNEYS, OR OTHER PROFESSIONALS, THE BOARD OF DIRECTORS IS
RESPONSIBLE FOR A DETERMINATION OF WHETHER THOSE FEES ARE
REASONABLE AND COMMENSURATE WITH THE SERVICES BEING PERFORMED.
THIS DUTY MAY BE DISCHARGED BY THE ESTABLISHMENT OF STANDARDS FOR
OR RANGES OF REASONABLE FEES WITH PROVISION FOR PERIODIC REVIEW
BY THE BOARD AND THE ABILITY OF THE BOARD TO ALTER EXCESSIVE
FEES.

(D)  FEES.

(1)  IN ESTABLISHING FEES TO BE PAID TO MEMBERS OF THE
BOARD, THE BOARD OF DIRECTORS SHALL ESTABLISH POLICIES THAT
PROTECT THE ASSETS OF THE ASSOCIATION.

(2)  THE BOARD OF DIRECTORS SHALL USE THE SAME FACTORS
IN SETTING ITS FEES AS IT DOES IN SETTING THE OFFICER'S
COMPENSATION.

(E)  MINUTES.

fit THE MINUTES OF THE BOARD OF DIRECTORS SHALL
INCLUDE THE RECORD OF DELIBERATIONS CONCERNING COMPENSATION FOR
OFFICERS AND FEES FOR ACCOUNTANTS, ATTORNEYS, APPRAISERS, OTHER
PROFESSIONALS, AND DIRECTORS.

(2) THE RECORDS OF THE BOARD MUST SUPPORT THE

CONCLUSIONS REACHED.

Part II. Capital Structure of Associations--Nondeposit

Association.

9-313. Savings share accounts.

(a) Authority to issue.