Ch. 326                                    1996 LAWS OF MARYLAND

(2) Approved by:

(i) A credit committee approval under § 6-503(a)(1) of this article;
and

(ii) The Board of Directors.

(c)     The [Bank] Commissioner, employees of the [Bank] Commissioner's office,
and other State employees acting under the supervision of the [Bank] Commissioner's
office may not:

(1)     Serve as an officer, director, or committee member of a credit union; or

(2)     Exercise any voting rights in a credit union.

(d)    Any person who violates any provision of this section is subject to forfeiture of
that person's office or employment.

2-203.

(a)     The function of the Banking Board is advisory.

(b)     The Banking Board shall give the [Bank] Commissioner OF FINANCIAL
REGULATION sound and impartial advice on:

(1)     The approval or disapproval of applications by a banking institution and
foreign banking corporation;

(2)     How to protect the interests of the general public and of depositors and
stockholders in banking institutions; and

(3)     Any other matter concerning banking institutions or the business of
banking in this State.

(c)     If the [ Bank] Commissioner does not follow the advice of the Banking Board,
the [Bank] Commissioner shall send to the Banking Board a written statement of the
reason for the action.

2-204.

The Banking Board shall meet at the call of the [ Bank] Commissioner.

2-401.

Subject to the evaluation and reestablishment provisions of the Program Evaluation
Act, the provisions of this article that create the office of the [ Bank] Commissioner OF
FINANCIAL REGULATION or relate to the powers and duties of the [Bank]
Commissioner and any regulations adopted under these provisions shall terminate and be
of no effect after July 1, 2002.

3-203.

(a) The incorporators shall:

(1) File with the [Bank] Commissioner OF FINANCIAL REGULATION
for examination the two copies of the articles of incorporation; and

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