1122                                          LAWS OF MARYLAND                                      Ch. 282

Notwithstanding any other provision of law and subject to
the approval of the Board of Commissioners, a savings and loan
association may raise capital under the same conditions and to
the same extent as a federal association as if the powers were
specifically enumerated in this title.]

9-420. SPECIFIC LIMITATIONS ON AUTHORIZED INVESTMENTS.

(A) LIMITATION ON AMOUNT OF LOANS TO ANY ONE BORROWER.

(1)  AN ASSOCIATION MAY NOT, DIRECTLY OR INDIRECTLY,
GRANT LOANS TO ANY ONE INDIVIDUAL OR BUSINESS ENTITY IN A TOTAL
AMOUNT IN EXCESS OF 10 5 PERCENT OF ITS ASSETS.

(2)  IN COMPUTING THE TOTAL AMOUNT OF LOANS MADE BY AN
ASSOCIATION TO AN INDIVIDUAL, ALL LOANS MADE BY THE ASSOCIATION
TO ANY ENTITY IN WHICH THAT INDIVIDUAL IS A CONTROLLING PERSON
SHALL BE INCLUDED.

(3)  IN COMPUTING THE TOTAL AMOUNT OF LOANS MADE BY AN
ASSOCIATION TO A PARTNERSHIP OR OTHER UNINCORPORATED ASSOCIATION,
THE FOLLOWING LOANS SHALL BE INCLUDED.

MEMBERS;

(I) ALL LOANS TO THE ASSOCIATION'S INDIVIDUAL

(II) ALL LOANS MADE FOR THE BENEFIT OF THE
PARTNERSHIP OR OTHER UNINCORPORATED ASSOCIATION; AND

(III) ALL LOANS TO OR FOR THE BENEFIT OF ANY
ENTITY OF WHICH THE PARTNERSHIP OR UNINCORPORATED ASSOCIATION, OR
ANY MEMBER OF THE PARTNERSHIP OR UNINCORPORATED ASSOCIATION, IS A
CONTROLLING PERSON.

(4)
ASSOCIATION TO
INCLUDED:

IN COMPUTING THE TOTAL AMOUNT OF LOANS MADE BY AN
A CORPORATION, THE FOLLOWING LOANS SHALL BE

CORPORATION;

(I) ALL LOANS MADE FOR THE BENEFIT OF THE

(II) ALL LOANS TO OR FOR THE BENEFIT OF ANY
PERSON OR ENTITY WHO IS A CONTROLLING PERSON OF THE CORPORATION;
AND

(III) ALL LOANS TO OR FOR THE BENEFIT
ENTITY OF WHICH THE CORPORATION IS A CONTROLLING PERSON.

OF ANY

(B) CONSUMER LOANS AND CERTAIN SECURITIES.

(1) (I) AN ASSOCIATION MAY MAKE SECURED OR UNSECURED
LOANS FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES, AND MAY INVEST
IN, SELL, OR HOLD COMMERCIAL PAPER AND CORPORATE DEBT SECURITIES
SUBJECT TO REGULATIONS PROMULGATED BY THE DIVISION DIRECTOR.