HARRY HUGHES, Governor                                        169

(ii) In addition to the powers expressly
provided in this title, the Fund shall have, and through the Fund
Director may exercise to the extent of the moneys in and
available to the Fund, all the corporate powers granted Maryland
corporations under the Maryland General Corporation Law.

(2) The Fund Director shall administer the Maryland
Deposit Insurance Fund and consult with the Board for the
purposes of:

(i) Insuring the savings accounts of member
associations;

(ii) Purchasing capital instruments, including
net worth certificates, issued by a member association to enable
that member association to qualify for federal insurance;

(iii) Reimbursing savings account holders for
loss incurred upon liquidation of a member association, up to the
amount of insurance on any savings account;

(iv) Providing funds for liquidity. to or
issuing obligations against the Fund for, or acquiring securities
of or from a member association, affiliate, or acquiring entity
in an emergency as determined by the Fund Director OR TO
FACILITATE AN ACQUISITION, CONSOLIDATION, MERGER OR TRANSFER OF
ASSETS AND OBLIGATIONS;

(v) Making capital contributions to member

associations or entities acquiring, consolidating, or merging

with, or acquiring assets and assuming obligations of, member
associations, if the Fund Director determines that:

1.  The amount of the capital contribution
is substantially less than the cost that the Fund would incur if
the member association were liquidated, including the cost of
reimbursing each savings account holder in the insured amount of
each savings account holder's deposit in the liquidated member
association; and

2.  The making of the capital contribution
is necessary to facilitate the acquisition, consolidation, or
mergers or transfers of assets and obligations; [and]

(vi) Paying to a receiver of any member
association in receivership under § 9-708 of this article at the
time of final distribution of the assets of the member
association a sum equal to the amount that the insurance
liability of the Fund has been reduced by reason of withdrawals
made during the pendency of a conservatorship or receivership of
the. member association under any form of hardship withdrawal plan
or partial distribution of assets approved by the court having
jurisdiction over the receivership of the member association; AND