HARRY HUGHES, Governor

1117

records, appears to be entitled to the deposit, money, or
property.

(b) Effect of court order.

If, in an action to which an adverse claimant is a party, a
court order or decree involving a claim to the deposit, money, or
property is served on a savings and loan association, the
association may, or[,] if required by the court, shall impound
the deposit, money, or property, subject to further order of the
court, and without any liability for these actions.

9-417, 9-418. Reserved.

9-419. Investments authorized.

(a) Investments enumerated.

Subject to § 9-420 OF THIS SUBTITLE AND the regulations of
the [Board of Commissioners] DIVISION DIRECTOR, a savings and
loan association may invest in any of the following types of
investments:

(1)  Any mortgage on real property that is a first or
second lien on property, BUT ONLY IF THE REQUIREMENTS OF § 9-420
OF THIS SUBTITLE ARE SATISFIED IN THE CASE OF AN ACQUISITION,
DEVELOPMENT, OR CONSTRUCTION LOAN;

(2)  Any participation interest in a mortgage, BUT
ONLY IF THE REQUIREMENTS OF § 9-420 OF THIS SUBTITLE ARE
SATISFIED;

(3)  Any loan that is secured by any savings accounts
in the association to the extent of the withdrawal value of the
respective account;

(4)  Any ground rent in this State;

(5)  Any general obligation of, or obligation
guaranteed as to principal and interest by, or other instrument
of:

(i) This State or any of its political
subdivisions or agencies; or

(ii) The federal government or any of its
agencies or instrumentalities;

(6)  Any general obligation of, or OBLIGATION
guaranteed as to principal and interest by, any other state if:

(i) The [Board of Commissioners] DIVISION
DIRECTOR approves; and