BARRY HUGHES, Governor

117

8-402.2.

(c) (1) After giving the officer or director an opportunity
to be heard promptly by the Board of [Savings and Loan]
Commissioners, if the Board OF COMMISSIONERS finds that the
unsafe or unsound practice continued after the warning, the Board
OF COMMISSIONERS, with the approval of the Secretary of Licensing
and Regulation, may remove the officer or director.

DRAFTER'S NOTE: This corrects misnomers of the Board of
Savings and Loan Association Commissioners and
corrects a misnomer of the defined short term "Board
of Commissioners" in § 8-402.2(c)(1) of the Financial
Institutions Article, replacing the misnomers with the
correct defined short term.

The misnomers were contained in Ch. 135 of the Acts of
the Regular Session of the General Assembly of 1985.

The misnomers were noted by the Michie Company.

9-320.

A capital stock association:

(2) Shall include in each prospectus offering capital
stock a statement that shares of capital stock are not insured by
the [Maryland Savings-Share Insurance Corporation] STATE OF
MARYLAND DEPOSIT INSURANCE FUND CORPORATION or the Federal
Savings and Loan Insurance Corporation;

9-322.

Capital stock shall:

(6) Each certificate that evidences capital stock
shall state that the shares are "capital stock" and are not
insured by the [Maryland Savings-Share Insurance Corporation]
STATE OF MARYLAND DEPOSIT INSURANCE FUND CORPORATION or the
Federal Savings and Loan Insurance Corporation.

9-323.

(c) (2) This subsection does not apply to a holding company
of a savings and loan association, the [Maryland Savings-Share
Insurance Corporation] STATE OF MARYLAND DEPOSIT INSURANCE FUND
CORPORATION, or the Federal Savings and Loan Insurance
Corporation.

9-419.

(a) Subject to the regulations of the Board of
Commissioners, a savings and loan association may invest in any
of the following types of investments: