Section 9-709 – Insuring Agency as Receiver or Conservator
The Federal Savings and Loan Insurance Corporation or the State of Maryland Deposit Insurance Fund Corporation has an absolute right to be appointed conservator or receiver of a savings and loan association insured by it.
Section 9-909 – Notice
(a) In this section, “payor institution” means a bank, credit union, or savings and loan association by which an item is payable as drawn or accepted. (b) As to each account of each depositor in a savings and loan association, the savings and loan association shall give to the customer, on opening of the account and on […]
Section 9-710 – Jurisdiction of Circuit Court
(a) (1) Notwithstanding any other provision of law and to the maximum extent permitted under the federal and State constitutions, the circuit court administering a conservatorship or receivership under this title shall have exclusive and plenary jurisdiction over all claims, actions, and proceedings that are brought by any person and that are related to the assets, property, […]
Section 9-911 – Persons Convicted of Crime
(a) Except with the written consent of the Division Director, a person who has been convicted, or who is convicted, of any crime involving dishonesty or a breach of trust, may not ever serve as an officer or director of an association. (b) However, the pendency of an appeal from the conviction stays the operation of the […]
Section 9-711 – Powers of Circuit Court in Administering Conservatorship or Receivership
(a) The circuit court administering a conservatorship or receivership under this title has full power to approve and allow or to reject and disallow claims against the conservatorship or receivership estate. (b) In a receivership, the court administering the receivership may estimate for purposes of allowance: (1) Any contingent, unliquidated, unmatured, or disputed claim, the fixing, liquidation, maturation, […]
Section 9-712 – Approval of Sale, Transfer, or Pledge of Assets
(a) In this section, savings and loan association includes its affiliates, subsidiaries, or a holding company. (b) (1) Upon application of the conservator or receiver, if the court, after notice and a hearing, determines that the consideration to be received from a transaction is fair and reasonable, the circuit court administering a conservatorship or receivership under this title […]
Section 9-801 – “Foreign Association” Defined
In this subtitle, “foreign association” means any savings and loan association other than: (1) A savings and loan association incorporated under the laws of this State; or (2) A savings and loan association incorporated under the laws of the United States that has its principal office in this State.
Section 9-802 – General Prohibition; Exceptions
(a) Except as provided under subsection (b) of this section, a foreign association or a savings and loan association that maintains its principal office outside this State may not: (1) Have an office for business in this State except for an office that was open for business in this State before June 1, 1955; (2) Have an electronic […]
Section 9-803 – Relocation of Permitted Office
(a) Subject to § 9-309 of this title and the approval of the Division Director, a foreign association or any savings and loan association that maintains its principal office outside this State may relocate an existing office in this State if: (1) The office was open on or before March 1, 1955; and (2) The relocation is within: […]
Section 9-804 – Activities Not Considered Doing Business
(a) For the purposes of this article and the Corporations and Associations Article, in addition to the activities listed in §§ 7–103 and 7–104 of the Corporations and Associations Article, the following activities of a foreign association do not constitute doing business or having tax situs in this State: (1) Making or investing in loans on property […]