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§ 10-103.1. Advisory function of Board

West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2011

West's Annotated Code of Maryland
Financial Institutions
Title 10. State of Maryland Deposit Insurance Fund Corporation (Refs & Annos)
Effective: October 1, 2011
MD Code, Financial Institutions, § 10-103.1
§ 10-103.1. Advisory function of Board
Currentness
In general
(a) The function of the Board is advisory.
Sound and impartial advice
(b) The Board shall give the Fund Director sound and impartial advice on:
(1) The approval or disapproval of applications by a member association;
(2) The administration of the State of Maryland Deposit Insurance Fund;
(3) Protection of the interest of the general public and of depositors in member associations; and
(4) Any other matter concerning the business of member associations.
Reasons for not following advice of Board
(c) If the Fund Director does not follow the advice of the Board, the Fund Director shall send to the Board and the Secretary a written statement of the reason for the action.

Credits

Added by Acts 1986, c. 698, § 1, eff. May 27, 1986.
MD Code, Financial Institutions, § 10-103.1, MD FIN INST § 10-103.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document