§ 8-303. Powers and duties of Division Director
West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2019
Effective: July 1, 2019
MD Code, Financial Institutions, § 8-303
§ 8-303. Powers and duties of Division Director
(a) The Division Director shall adopt regulations necessary to accomplish the policies set forth in § 8-102 of this title.
(b) Without limiting the authority conferred by subsection (a) of this section, the Division Director may adopt regulations consistent with the provisions of this title and Title 9 of this article with respect to:
(c) Without limiting the authority conferred by subsection (a) of this section, directors and officers of savings and loan associations shall develop and implement, by December 31, 1989, written:
(d) The procedures required under subsection (c)(2) of this section shall set forth specific factors to be considered by the savings and loan association's directors and officers, including but not limited to:
(e) Real estate appraisal policies and procedures shall be submitted by the savings and loan associations to the Division Director for review and approval.
(f) The regulations adopted by the Division Director may include reasonable requirements and limitations on the types and amounts of investments, the manner of raising capital, and the nature and amounts of reserves, irrespective of their effects on free economic competition.
(g) If the Division Director believes that a savings and loan association or any of its controlling persons, directors, officers, agents, or employees has violated any provision of this title or Title 9 that relates to the association, the Division Director immediately shall report the violation to:
Credits
Added by Acts 1986, c. 282, § 1, eff. June 1, 986. Amended by Acts 1987, c. 11, § 1; Acts 1989, c. 777, §§ 1, 2; Acts 1990, c. 384; Acts 1990, c. 594; Acts 1991, c. 568; Acts 1995, c. 120, § 19, eff. July 1, 1995; Acts 2012, c. 66, § 1, eff. April 10, 2012; Acts 2019, c. 8, § 5.
MD Code, Financial Institutions, § 8-303, MD FIN INST § 8-303
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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