Section 8-307 – Limitations on Outside Activity and Interests; Gifts
(a) The Division Director shall devote full time to the duties of the office. (b) The Division Director and staff may not be officers, directors, employees, auditors, agents of, or attorneys for, nor retained in any manner by, nor have any ownership interest or deposit whatsoever in, any savings and loan association or related entity. (c) The Division […]
Section 8-308 – Subpoena Powers; Oaths
After notifying the Secretary, the Division Director may: (1) Subpoena witnesses and administer oaths or affirmations in the examination of any controlling person, director, officer, employee, or agent of an association or related entity, or of any other person in relation to the affairs, transactions, and conditions of the association or related entity; (2) Require the production […]
Section 8-309 – Annual Report to Governor, General Assembly, and Secretary; Recommendation on Legislation
(a) (1) On June 30 of each year, or at the discretion of the Division Director or as circumstances warrant, the Division Director shall provide a written report to the Governor, the President of the Senate, the Speaker of the House of Delegates, and the Secretary of Labor on: (i) The operations of the Division Director’s office; (ii) The […]
Section 8-310 – Termination of Provisions of Subtitle
Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the provisions of this subtitle relating to the Division of Savings and Loan Associations and relating to the regulation of savings and loan associations are of no effect and may not be enforced after July 1, 1992.
Section 8-301 – Division Established
There is a Division of Savings and Loan Associations in the Maryland Department of Labor.
Section 8-302 – Director of Division of Savings and Loan Associations
(a) The Secretary of Labor shall appoint the Division Director with the approval of the Governor and the advice and consent of the Senate. (b) The Division Director serves at the pleasure of the Secretary. (c) The Division Director shall have experience in State or national regulation or management of financial organizations, which may include service as a […]
Section 8-303 – Powers and Duties of Division Director; Real Estate Appraisal Policies and Procedures
(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: (1) Any powers conferred […]
Section 8-305 – Staff
(a) With the approval of the Secretary, the Division Director may appoint the staff provided in the State budget. (b) Except as provided in subsection (c) of this section or otherwise by law, the Division Director shall appoint and remove all personnel in accordance with the provisions of the State Personnel and Pensions Article. (c) The deputy director […]
Section 8-306 – Oath
Before taking office, the Division Director shall take the oath required by Article I, § 9 of the Maryland Constitution.