1128

LAWS OF MARYLAND

Ch. 282

(1)  Instead of an examination or audit under
subsection (a) or (b) of this section, the Division Director may
accept a copy of a reasonably recent examination or audit made or
accepted by a Federal Home Loan Bank, the Federal Home Loan Bank
Board, or by the Federal Savings and Loan Insurance Corporation.

(2)  A substituted audit under paragraph (1) of this
subsection shall be signed and certified by the auditor.

(d)  Investigations; special reports.

(1)   [If the Board of Commissioners approves, the] THE
Division Director may:

(i) Make any further investigation of a savings
and loan association; [and]

(ii) Require any other report from an
association, including an appraisal of assets, that the Division
Director considers necessary; AND

(III) INVESTIGATE ANY RELATED ENTITY.

(2)  If an appraisal of assets is not done in a manner
satisfactory to the Division Director, the Director may cause an
appraisal to be made AT THE EXPENSE OF THE ASSOCIATION.

(3)  The Division Director may accept any appraisal
caused to be made by the Federal Home Loan Bank, the Federal Home
Loan Bank Board, the Federal Savings and Loan Insurance
Corporation, or by the Maryland [Savings-Share] DEPOSIT Insurance
FUND Corporation.

(e)   [Copy of examination or audit] BOOKS AND RECORDS.

[The Division Director shall give a complete copy of the
report of any examination or audit to the savings and loan
association examined or audited.] ALL BOOKS AND RECORDS OF AN
ASSOCIATION AND ANY RELATED ENTITY SHALL DISCLOSE FULLY AND
ACCURATELY ALL OF THE ASSETS AND LIABILITIES OF THE ASSOCIATION
AND ANY RELATED ENTITY.

(F) REPORT TO SECRETARY.

THE DIVISION DIRECTOR SHALL INFORM THE SECRETARY OF ANY
SIGNIFICANT ISSUES ABOUT A SAVINGS AND LOAN ASSOCIATION THAT ARE
DISCLOSED IN AN EXAMINATION OR AUDIT.

9-503. Access to records.

The Division Director, deputy DIVISION director, and any
examiner from, OR AGENT OF, the Division of Savings and Loan
Associations shall have access to all the records of a savings
and loan association, OR RELATED ENTITY including the records of
any CONTROLLING PERSON, DIRECTOR, officer, agent, or employee of