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§ 10-109. Prohibited activities

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 10. State of Maryland Deposit Insurance Fund Corporation (Refs & Annos)
MD Code, Financial Institutions, § 10-109
§ 10-109. Prohibited activities
Currentness
In general
(a) Except as provided in subsection (b) of this section, the Fund Director and employees of the Fund may not:
(1) Become indebted to any member association; or
(2) Engage or be interested in the sale of securities of or in the negotiation of loans for others to or with any member association.
Loans made to depositor from member association
(b) This section does not apply to a loan that a member association makes to a depositor if the loan is less than the amount of the deposit.
Violators subject to dismissal
(c) Any person who violates any provision of this section is subject to dismissal.

Credits

Added by Acts 1985, 1st Sp. Sess., c. 6, § 3, eff. May 18, 1985.
MD Code, Financial Institutions, § 10-109, MD FIN INST § 10-109
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