Ch. 25                                      2004 LAWS OF MARYLAND

Occurred: Ch. 709, Acts of 1997.

Article - Financial Institutions

8-401.

(a) The Division Director may issue orders:

(1) To compel a savings and loan association or related entity to comply
with its charter or bylaws, any applicable law, or any rule or regulation; [or]

DRAFTER'S NOTE:

Error: Extraneous conjunction in § 8-401(a)(1) of the Financial
Institutions Article.

Occurred: Ch. 282, Acts of 1986.

9-329.

(a) In any distribution of assets on liquidation of a savings and loan
association, the priority of claims is as follows:

(1)     In a mutual association:

(i) General creditors and holders of savings deposit accounts;

(ii) Holders of savings share accounts; and

(iii) Contributors to the initial general reserve fund [and] before
June 1, 1986 and to the expense fund under Subtitle 2 of this title; and

(2)     In a capital stock association:

(i) General creditors (other than those who are capital
stockholders) and holders of savings deposit accounts;

(ii) Holders of savings share accounts;

(iii) Contributors to the initial general reserve fund [and] before
June 1, 1986 and to the expense fund under Subtitle 2 of this title unless the funds
were provided by paid—in surplus; and

(iv) Capital stockholders.

DRAFTER'S NOTE:

Error: Extraneous conjunction in § 9-329(a)(1)(iii) and (2)(iii) of the
Financial Institutions Article.

Occurred: Ch. 282, Acts of 1986.

11-404.

(c) (1) For each license for which an applicant applies, the applicant shall
[submit]:

- 136 -