The Republican. [volume] (Oakland, Md.) 1877-current, 1963-07-04

charge, shall take into income rat
ably over the life of the loan any
amount so received.
1926 EXCLUSIONS:
The usual closing cost of a trans
action, such as fees for title eX-
animation, appraisal fees, presi-
dents fee, recording cost, dOcu-
mentary stamps and other charges
of a similar nature, which are
specifically excluded from 1882,
etc, of these Regulations.
1O4 VALUATION OF ASSETS
104.1 Retaliation by Director -
With the prior approval of the
Board, the Director may make a
revaluation of any asset of an as
sociation including any property
given as security for any loan held
by an association. If the Director
finds it necessary, he may, with
the prior approval of the Board,
use for that purpose any independ-
ent appraiser or appraisers. Such
Independent appraiser or apprais-
erS shall be selected by the Direc-
tor from a list of qualified APP
praiSers to be furnished by the
Board of Building, Savings and
Loan Association Commissioners.
A copy of the appraisal report on
the property being revalued shall
be furnished the association, and
the association shall bear the ex-
pense of such appraisal or APP
praiSals and promptly pay the cost
thereof upon receipt of bill for
such appraisal or appraisals. The
Director may require an associa-
ton to establish and maintain a
specific loss reserve for the amount
by which the book value of any
asset exceeds any such revalua-
ton. or for the emount by which
the unpaid balance of any loan ex-
ceeds the amount for which such
loan might lawfully be made,
based upon such revaluation.
1O5 ADVERTISING AND PRO
MOTIONAL ACTIVITIES
1851 Associations Advertising
File-Each association shall main
tain or cause to be maintained, and
make available for inspection at
its home office, Il chronological file
of all forms of advertisement used
by it during the preceding Is
months
1852 Filing of Advertising Prior
to Publication-The Director may
require any or all associations to
file a true copy of the text of any
advertisements in the office of the
Department of Building, Savings
and Loan Associations at least 5
days prior to issuance, circulation
or publication of such advertise
mcnts Filing shall not be ncccs-
Sary, except when specifically re-
CURED by the Director
1052l Use Afrcr Noticc-Adver-
Using shall not be used after the
Director has given written notice
that the advertisement is unau-
thOrized, false, misleading, or like
~ to deceive the public.
1858 Idcntific alton of the Asso-
ciatiOn-The complete corporate
name of the association shall be
set forth at least once in any adj
VertiSement.
1854 Misleading Impression-Any
advertisement CT any advertising
sign as a whole shall not be in
accurate or create a misleading
impression even though statements
therein, separately considered, are
literally truthful.
1865 Dividend Payment-No as
SOciation shall advertise in a man
ncr which implies that the rate
advertised will Re paid for a long
or period than months. All adj
vcrtisCmCntS of rate" shall make
clear that it is the current annual
rate.
1856 Withdrawal of Funds-No
association shall advertise concern
ing the availability of funds for
Withdrawal in such a manner as
to lead a reasonable person to be-
licvc that funds will necessarily
be available on demand.
1857 PromOtiCnal GiVcaWayS -
No association shall give for the
opening of, maintaining of, or in
creasing the amount of any ac-
count, any gift or premium that
has monetary value in excess of
$3.50, as required by Section 1911
AA of Article % Acts of 1861
1851 Sales of Gifts or Premiums
No association shall give or sell
gifts or premiums conditioned up
on the payment Of specified sum
Of money to cover all or part of
the cost of the gift or the premium
1858 GiveaWay Prohibition APP
plicable to Dealings with Brokers
and Other PersCns-No associa-
ton shall enter into any agree
ment or understanding with, or
accept funds for investment in
free share accounts from any bro
ker or other person engaging in
activities that are prohibited as
sociations by Section 1857.
107 GUARANTY STOCK
1911 Minimum Dividend on Free
Share Accounts of Guaranty Stock
Associations-Any association au-
thOriZed by law to issue or main
taIn shares of Guaranty Stock
must. prior to the payment of any
dividend on such Guaranty Stock,
in any dividend period, declare
and pay dividends on all free share
accounts, in accordance with the
provisions of Section 161FF of Ar
ticlc % of the Annotated Code of
Maryland, at a rate not less than
3l2e6.
1912 Ccrtificato-Stated Restric-
tions: Each certificate heretofore
or hereafter issued as evidence of
ownership of Guaranty Stock shall
clearly show on its face in a type
size no less thar so points that
such stock is Guaranty Stock"
In addition, pursuant to Section
~ e A,AinI.n IL,