Ch. 11

LAWS OF MARYLAND

4-907..

(d) (1) If, after examination, it appears that the required
capital stock and surplus [has] HAVE not been paid in full, the
Bank. Commissioner may not issue the certificate of authority to
do business.

DRAFTER'S NOTE: This corrects a grammatical error in §
4-907(d)(l) of the Financial Institutions Article.

The grammatical error occurred in Ch. 355 of the Acts
of 1986.

The grammatical error was noted by the Michie -Company.

5-1101.1.

The provisions of this subtitle which authorize an
out-of-state bank holding company to acquire and hold certain
institutions are only in effect through June 1, 1986. Any
acquisition that was approved under this subtitle before June 1,
1986 remains subject to the terms and conditions that were in
effect before that date, including the authorizations in
[subsections (c) and (d)] § 5-1102(C) AND (D) of § 5-1102.

DRAFTER'S NOTE: This corrects a stylistic error in a
cross-reference in § 5-1101.1 of the Financial
Institutions Article.

The stylistic error occurred in Ch. 11 of the Acts of
1986.

The stylistic error was noted by the Michie Company.

6-401.

(a) (1) As to each interest bearing or share account of
each member or depositor in a credit union, the credit union
shall generally make available to any member of depositor with an
existing account, in addition to actually giving to the member or
depositor, on the opening of the interest bearing or share
account and, later, on demand of the member or depositor:

(i) Written notice of:

         1. The annual rate of simple interest
currently in effect;

2. The dates, if any, on which the
current rate of interest or dividends may be changed, and the
terms and conditions under which each successive interest rate or
dividend will be applied;

- 302 -