1386                                          LAWS OF MARYLAND                                      Ch. 356

A SUBSIDIARY SAVINGS BANK MAY DISSOLVE IN ACCORDANCE WITH
SECTION 3-803 OF THIS ARTICLE AND SUBJECT TO ANY RIGHTS PROVIDED
FOR IN SECTION 4-802(C)(4) OF THIS TITLE.

5-210.

AN EXAMINER SHALL HAVE ACCESS TO ALL THE RECORDS OF A
SUBSIDIARY SAVINGS BANK, ITS MUTUAL HOLDING COMPANY, OR OTHER
RELATED ENTITY INCLUDING THE RECORDS OF ANY CONTROLLING PERSON,
DIRECTOR, OFFICER, AGENT, OR EMPLOYEE OF THE SUBSIDIARY SAVINGS
BANK, ITS MUTUAL HOLDING COMPANY, OR OTHER RELATED ENTITY THAT
RELATE TO THE BUSINESS OF THE SUBSIDIARY SAVINGS BANK, ITS MUTUAL
HOLDING COMPANY, OR OTHER RELATED ENTITY.

5-511.

(a) Banking institutions may not have common directors
unless the Bank Commissioner finds that a common directorship is
in the public interest and not detrimental to either banking
institution.

(b) (1) An individual who now is a director of more than
one banking institution may complete the term of office of each
directorship and may be reelected to each directorship.

(2) THIS SECTION DOES NOT PROHIBIT ANY PERSON FROM
BEING AN OFFICER, EMPLOYEE, DIRECTOR, OR TRUSTEE OF A MUTUAL
HOLDING COMPANY AND ITS SUBSIDIARY SAVINGS BANK, SHARES OF WHICH
ARE OWNED BY THE SAME MUTUAL HOLDING COMPANY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.

Approved May 13, 1986.

CHAPTER 356

(Senate Bill 671)

AN ACT concerning

Wage and Hour Law - Subpoenas

FOR the purpose of authorizing the Commissioner of Labor and
Industry to issue subpoenas in wage and hour investigations
under certain circumstances; prohibiting the Commissioner
from issuing a subpoena under certain circumstances;
defining the parameters of a valid subpoena application;
providing for judicial enforcement in case of refusal to
comply with subpoenas; making certain stylistic changes; and