WILLIAM DONALD SCHAEFER, Governor                        Ch. 6

(a)  The Bank Commissioner shall adopt regulations
establishing a reasonable period of time of not more than:

(1)  3 business days, within which a credit union
shall be required to permit a customer or member of a credit
union to draw, as of right, on a local item which has been
received for deposit in the customer's or member's account in the
credit union;

(2)  6 business days, within which a credit union
shall be required to permit a customer or member to draw, as of
right, on an out-of-state item which has been received for
deposit in the customer's or member's account in the credit
union; [and]

(3)  1 business [day] DAY, within which a credit union
shall be required to permit a customer or member to draw, as of
right, on a State or federal government item which has been
received for deposit in the customer's or member's account in the
credit union; AND

(4)  2 business [days] DAYS, within which a credit
union shall be required to permit a customer or member to draw,
as of right, on an item of not more than $100, which has been
received for deposit in the customer's or member's account in the
credit union.

DRAFTER'S NOTE:

Error: Misplaced conjunction and punctuation omitted
in § 6-4A-03(a) of the Financial Institutions Article.

Occurred: Chs. 405 and 481, Acts of 1987.

9-216.1.

(b)  (2) (ii) Any paid-in surplus amounts that are allocated
to the expense fund under [paragraph (2)(i) of this subsection]
SUBPARAGRAPH (I) OF THIS PARAGRAPH may not be used for dividends
to holders of capital stock or any other distribution to holders
of capital stock except on liquidation.

DRAFTER'S NOTE:

Error: Stylistic error in § 9-216.1(b)(2)(ii) of the
Financial Institutions Article.

Occurred: Ch. 856, Acts of 1980.

9-322.

Capital stock shall:

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