WILLIAM DONALD SCHAEFER, Governor                      Ch. 11

The error was noted by the Michie Company.

9-631.

A capital stock savings and loan association may convert to
a commercial bank if:

(8) It has met all the requirements of this [Part V]
PART and other applicable provisions in this article.

9-633.

The Bank Commissioner:

(6) May adopt regulations to carry out the provisions
of this [Part V] PART.

9-640.

(a) Except as provided in subsections (b), (c), and (d) of
this section, a capital stock savings and loan association
converted under this [Part V] PART to a commercial bank may
exercise all the powers of, and shall be subject to all the
restrictions imposed on, a commercial bank under this article.

DRAFTER'S NOTE: This corrects stylistic errors in
cross-references in §§ 9-631(8), 9-633(6), and
9-640(a) of the Financial Institutions Article.

The stylistic errors occurred in Ch. 591 of the Acts
of 1986.

The stylistic errors were noted by the Michie Company.

10-110.1.

(c) Subject to any other conditions established under law,
if the Fund Director is reasonably satisfied that an insurable
loss will be incurred upon final liquidation, in order to
facilitate the payment of deposit insurance to depositors of a
member association and to reasonably reduce the administrative
costs of a liquidation, including demands on any hardship
withdrawal plan, the Fund may, either upon final liquidation or
earlier, and either from available moneys in the Fund or from any
other State funds advanced to the Fund for that purpose:

(1) Make a cash payment or payments or issue an
obligation under a contract with one or more insured institutions
with respect to the making available of insured accounts in an
amount equal to all or any portion of the depositors' savings
accounts to any or all of the depositors of a member association
in receivership;

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