Section 9-908 – Termination of Certain Provisions of This Title
Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the provisions of this title that relate to the Division of Savings and Loan Associations and that relate to the regulation of savings and loan associations are of no effect and may not be enforced after July 1, 1992.
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 9-911 – 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 9-901 – 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 […]