HARRY HUGHES, Governor                                         171

Assembly, the same shall take effect from the date of its
passage.

Approved April 3, 1986.

CHAPTER 12

(House Bill 1374)

AN ACT concerning

State of Maryland Deposit Insurance Fund Corporation -
Powers and Remedies

FOR the purpose of clarifying certain powers and remedies
available to the State of Maryland Deposit Insurance Fund
Corporation; expressly authorizing certain actions and
procedures relating to the payment of deposit insurance,
including advance payments to depositors and the execution
of certain contracts with certain insured institutions;
providing for the final determination of insurable loss;
providing that certain moneys of the State and recoveries
shall be kept in a separate account and are not subject to
attachment; clarifying the doctrine of legal subrogation as
it applies to the Fund; vesting the rights and claims of the
former Maryland Savings-Share Insurance Corporation in the
Fund; expressly providing that the Fund does not indemnify
officers, directors, employees or agents of the former
Maryland Savings-Share Insurance Corporation; providing the
Fund with judgment lien priority subject to certain
perfected vested rights; providing that certain rights,
claims, and liabilities of the Fund accrue to a successor
agency or the Department of Licensing and Regulation under
certain circumstances; confirming the retention of the
defense of sovereign immunity by the Fund except for certain
written obligations; providing for a partial waiver of the

defense of sovereign immunity under certain limited

circumstances and subject to the availability of certain
funds; granting qualified immunity to agents of the Fund
under certain circumstances and providing certain
exceptions; providing for the construction and applicability
of this Act; generally relating to the State of Maryland
Deposit Insurance Fund Corporation; and making this Act an
emergency measure.

BY renumbering

Article - Financial Institutions

Section 10-101(h), (i), and (j), respectively

to be Section 10-101(i), (j), and (k), respectively

Annotated Code of Maryland

(1980 Volume and 1985 Supplement)