Ch. 405                                LAWS OF MARYLAND

SAVINGS AND LOAN ASSOCIATION'S POLICY ON THE RIGHT TO DRAW ON
ITEMS RECEIVED FOR DEPOSIT IN THE ACCOUNT; AND

(2) KEEP POSTED IN A CONSPICUOUS LOCATION, AT EACH
BRANCH OF THE SAVINGS AND LOAN ASSOCIATION, A NOTICE THAT
SUBSTANTIALLY SETS FORTH THE GENERALLY APPLICABLE TIME
LIMITATIONS AND THE SAVINGS AND LOAN ASSOCIATION'S POLICY ON THE
RIGHTS OF THE HOLDER OF THE ACCOUNT TO DRAW ON ITEMS DEPOSITED TO

THE ACCOUNT.

  (F)(E)(F) THE REGULATIONS ADOPTED UNDER THIS SECTION DO
NOT APPLY TO FOREIGN ITEMS.

(G) (F) (G) THE DIVISION DIRECTOR MAY ADOPT, ON A

DETERMINATION BY THE DIVISION DIRECTOR THAT THE UNIFORM

APPLICATION OF A REGULATION ADOPTED UNDER THIS SECTION RESULTS IN
UNSOUND OR UNSAFE PRACTICES, ANY FURTHER REGULATION THE DIVISION
DIRECTOR CONSIDERS APPROPRIATE ADDITIONAL RULES AND REGULATIONS
NECESSARY TO CARRY OUT THE PROVISIONS OF THIS SUBTITLE.

9-412.

(A) EXCEPT AS PROVIDED UNDER SUBSECTION (B) OF THIS
SECTION, ANY PROVISION IN AN AGREEMENT BETWEEN A SAVINGS AND LOAN
ASSOCIATION AND A HOLDER OF AN ACCOUNT IN THE ASSOCIATION THAT
PROVIDES FOR A PERIOD- OF TIME LONGER THAN THE TIME PRESCRIBED
UNDER THIS SECTION SHALL BE CONSIDERED UNREASONABLE AND THE
MAXIMUM PERIOD, OF TIME PERMITTED BY REGULATION SHALL APPLY.

(B) THIS SECTION DOES NOT PROHIBIT A SAVINGS AND LOAN
ASSOCIATION AND A HOLDER OF AN ACCOUNT IN THE ASSOCIATION FROM
AGREEING IN WRITING TO A GREATER PERIOD OF TIME THAN THAT
PRESCRIBED BY REGULATION UNDER § 9-411 OF THIS ARTICLE FOR
DRAWING AGAINST ITEMS UNDER SPECIAL CIRCUMSTANCES IF:

(1) THE AGREEMENT IS NOT CONTAINED IN A PREPRINTED
FORM; AND

(2) THE AGREEMENT IS NOT A USUAL, REGULAR BUSINESS
PRACTICE OF THE SAVINGS AND LOAN ASSOCIATION.

9-909.                                                                                

(a) In this section, "payor institution" means a bank,
credit union, or savings and loan association by which an item is
payable as drawn or accepted.

   (b) As to each account of each depositor in a savings and
loan association, the savings and loan association shall give to
the customer, on opening of the account and on any later demand
of the customer, written notice of the GENERALLY APPLICABLE TIME
LIMITATIONS AND THE SAVINGS AND LOAN'S POLICY ON THE RIGHT TO
DRAW ON ITEMS RECEIVED FOR DEPOSIT IN THE CUSTOMER'S ACCOUNT AND

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