Section 9-915 – Scope of Judicial Review
(a) In any appeal of an order of the Division Director under this title or Title 8 of this article, the Division Director shall be considered a party and has the right to appeal any decision to the Court of Special Appeals or petition the Court of Appeals for a writ of certiorari. (b) Whether or not […]
Section 9-916 – Indemnification Prohibition
Notwithstanding any provision of law, a savings and loan association, holding company, or subsidiary may not indemnify any person who is fined under any criminal penalty provision of this title or Title 8 of this article or subject to any civil penalty under this title or Title 8 of this article.
Section 9-917 – Rules of Construction
In the interpretation and construction of this title and Title 8 of this article: (1) A reference to a statute or to a regulation issued by a government agency includes the statute or regulation with all amendments and supplements to the statute and any new statute or regulation substituted for such statute or regulation, as in […]
Section 9-918 – Receiverships Effective June 1, 1992
On June 1, 1992 any savings and loan association that is chartered under the provisions of this title shall be placed in receivership in accordance with § 9-708 of this title.
Section 9-912 – Civil Penalties; Directors, Officers, Employees, and Controlling Persons
(a) (1) Any director, officer, controlling person, or employee of a savings and loan association or related entity who is found to have violated any provision of this title or Title 8 of this article, whether willfully or as a result of gross negligence or recklessness, may be ordered to pay a civil penalty to the State […]
Section 9-913 – Criminal Penalties
(a) Except as otherwise provided in this section and in this title, any violation of any provision of this title or any regulation adopted in accordance with this title by a director, officer, controlling person, or employee of an association is punishable by a fine not to exceed $10,000, or imprisonment in the penitentiary for not […]
Section 9-914 – Withdrawing Funds From Failing Institution
(a) A controlling person, officer, or director may not withdraw funds or cause his funds or those of his immediate family or any other depositor to be withdrawn knowing that due to financial difficulties the association is about to suspend operations or go into conservatorship, receivership, reorganization, or liquidation. (b) Any controlling person, officer, or director who […]
Section 9-901 – Membership in Maryland Deposit Insurance Fund or Federal Savings and Loan Insurance Corporation
A savings and loan association shall become and participate as a member in and have its savings accounts insured by the Maryland Deposit Insurance Fund Corporation or the Federal Savings and Loan Insurance Corporation. If membership in both corporations ceases, the association shall be placed in receivership in accordance with § 9-708 of this title.
Section 9-902 – Notice of Rejection of Application for Residential Mortgage
If a savings and loan association rejects an application for a residential mortgage, the association shall give the applicant, on request, written notice of the rejection.
Section 9-903 – Mortgage Insurance Premiums
If a savings and loan association holds a first mortgage on residential property, and the mortgage is partially insured by a private mortgage insurance company, the association shall eliminate all charges to the mortgagor for mortgage insurance premiums when the mortgage is reduced to the level at which the federal Homeowners Protection Act of 1998 […]