HARRY HUGHES, Governor

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If a savings and loan association holds an investment that
was permitted under this subtitle at the time the investment was
made, and the [Board of Commissioners] DIVISION DIRECTOR later
withdraws the authorization, the association may continue to hold
the investment.

9-424. Expenses charged borrowers.

(a)  Authority in general.

A savings and loan association may require a borrower to pay
all charges in connection with a loan to the borrower.

(b)  Memorandum of settlement.

At each settlement, a savings and loan association shall
give the borrower a memorandum of settlement that details each
charge made in connection with the settlement.

(c)  Application to laws of usury.

This section does not modify the usury laws of this State.
9-425. Depository.

(a) Authority to act as depository.
A savings and loan association may:

(1) Act as a depository of funds of:

(i) The federal government and its agencies;

and

(ii) This State and any of its political

subdivisions;

(2)  Pledge collateral to secure deposits; and

(3)  Comply with the terms required by the depositor.

(b) Claim priority.

Depositors under this section are general creditors under §
9-329 of this title ("Priority of claims").

[9-426. Membership in Maryland Savings-Share Insurance
Corporation or federal home loan bank.

A savings and loan association shall become and participate
as a member in the Maryland Savings-Share Insurance Corporation
or a federal home loan bank. ]