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PARRIS N. GLENDENING, Governor
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Ch. 540
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(7) REFUSES TO BE EXAMINED OR TO PRODUCE RECORDS OR FILES FOR
EXAMINATION BY THE COMMISSIONER WHEN REQUIRED;
(8) REFUSES TO PROVIDE ADDITIONAL INFORMATION REASONABLY
REQUESTED BY THE COMMISSIONER; OR
(9) OTHERWISE DEMONSTRATES UNWORTHINESS, BAD FAITH,
DISHONESTY, OR ANY OTHER QUALITY THAT INDICATES THAT THE BUSINESS OF THE
CREDIT UNION SHARE GUARANTY CORPORATION HAS NOT BEEN OR WILL NOT BE
CONDUCTED HONESTLY, FAIRLY, AND EQUITABLY (
(B) IN DETERMINING WHETHER THE CERTIFICATE OF AUTHORITY OF A
CREDIT UNION SHARE GUARANTY CORPORATION SHOULD BE SUSPENDED OR
REVOKED FOR A CONVICTION LISTED IN SUBSECTION (A)(2) OF THIS SECTION, THE
COMMISSIONER SHALL CONSIDER:
(1) THE NATURE OF THE CRIME;
(2) THE RELATIONSHIP OF THE CRIME TO THE ACTIVITIES AUTHORIZED
BY THE CERTIFICATE OF AUTHORITY;
(3) THE RELEVANCE OF THE CONVICTION TO THE FITNESS AND
QUALIFICATION OF THE CREDIT UNION SHARE GUARANTY CORPORATION TO
ENGAGE IN THE CREDIT UNION SHARE GUARANTY BUSINESS;
(4) THE LENGTH OF TIME SINCE THE CONVICTION; AND
(5) THE BEHAVIOR AND ACTIVITIES OF THE CREDIT UNION SHARE
GUARANTY CORPORATION SINCE THE CONVICTION.
(C) (1) THE COMMISSIONER MAY ENFORCE THE PROVISIONS OF THIS
SUBTITLE AND ANY RULE OR REGULATION ADOPTED UNDER THIS SUBTITLE BY:
(I) ISSUING AN ORDER TO THE CREDIT UNION SHARE GUARANTY
CORPORATION OR ENTERING INTO AN AGREEMENT UNDER WHICH THE CREDIT
UNION SHARE GUARANTY CORPORATION AGREES:
1. TO CEASE AND DESIST FROM THE VIOLATION AND ANY
FURTHER SIMILAR VIOLATIONS; AND
2. TO TAKE AFFIRMATIVE ACTION TO CORRECT THE
VIOLATION, INCLUDING THE RESTITUTION OF MONEY OR PROPERTY TO ANY PERSON
AGGRIEVED BY THE VIOLATION; AND
(II) IMPOSING A CIVIL PENALTY NOT EXCEEDING $1,000 FOR EACH
VIOLATION.
(2) IF A VIOLATOR FAILS TO COMPLY WITH AN ORDER OR AGREEMENT
UNDER THIS SUBSECTION, THE COMMISSIONER MAY IMPOSE A CIVIL PENALTY NOT
EXCEEDING $1,000 FOR EACH VIOLATION FROM WHICH THE VIOLATOR FAILED TO
CEASE AND DESIST OR FOR WHICH THE VIOLATOR FAILED TO TAKE AFFIRMATIVE
CORRECTIVE ACTION.
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- 4103 -
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