reglab/housing_qa huggingface dataset:
MD. Financial Institutions Code Ann. §  7-218 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-218 - Liquidation and Receivership

    (a)    The Commissioner shall give prompt notice to the applicable credit union share guaranty corporation whenever the Commissioner:        (1)    Takes possession of the property and assets of a participating credit union; and        (2)    Determines to liquidate the property and assets of a participating credit union.    (b)    Notwithstanding the provisions of §§ 5-605 and 6-905(d) of this article, the Commissioner may petition a court of competent jurisdiction to appoint the applicable credit union share guaranty corporation as receiver of the participating credit union.    (c)    When the property and business of a participating credit union has been liquidated or is in the process of liquidation and the proceeds of liquidation distributed are insufficient to pay the full guaranteed amount of each credit union share or deposit account, the credit union share guaranty corporation shall pay each deficiency up to the guaranteed amount within 30 days after the date the credit union share or deposit account balance is verified.    (d)    When any participating credit union share or deposit account is paid, the credit union share guaranty corporation shall be subrogated to all rights of the member or depositor, up to the amount paid by the credit union share guaranty corporation to the member or depositor.
MD. Financial Institutions Code Ann. §  7-219 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-219 - Termination of Participation

    (a)    A credit union share guaranty corporation may terminate the participation of a participating credit union for any of the following reasons:        (1)    The participating credit union fails to satisfy the risk eligibility standards established by the credit union share guaranty corporation and applicable to all participating credit unions;        (2)    The participating credit union operates in an unsafe and unsound manner as determined by the credit union share guaranty corporation;        (3)    The participating credit union fails to furnish financial statements, delinquent loan reports, or other information considered necessary by the credit union share guaranty corporation;        (4)    The participating credit union fails to remedy in a timely manner a qualification arising from an audit permitted or required under the written contract between the participating credit union and the credit union share guaranty corporation;        (5)    The participating credit union fails to pay when due a capital contribution or applicable premium, fee, or assessment under this subtitle;        (6)    The participating credit union fails to comply with any provision of this article or the articles of incorporation or bylaws of the credit union share guaranty corporation that are material to the safety and soundness of the participating credit union; or        (7)    Continued participation by the participating credit union would result in a violation of this subtitle or other applicable state or federal law by the credit union share guaranty corporation.    (b)    (1)    At least 30 days before the effective date of any termination, the credit union share guaranty corporation shall send written notice of the pending termination and the reasons for the termination to:            (i)    The participating credit union whose participation is to be terminated; and            (ii)    The Commissioner.        (2)    The 30-day notice required under paragraph (1) of this subsection does not apply to the termination of excess coverage.
MD. Financial Institutions Code Ann. §  7-220 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-220 - Violations; Penalty

    A person who violates any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $5,000 or imprisonment not exceeding 5 years or both.
MD. Financial Institutions Code Ann. §  7-221 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-221 - State Not Liable for Payment of Funds

    Nothing in this subtitle creates any liability on the State for the payment of any funds to any participating credit union or other person by reason of:         (1)    An act or omission of a credit union share guaranty corporation; or        (2)    A deficiency of a participating credit union in the event a credit union share guaranty corporation is unable to pay the deficiency.
MD. Financial Institutions Code Ann. §  7-222 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-222 - Insurance Article Not Applicable

    A credit union share guaranty corporation, its participating credit unions, and persons who have share or deposit accounts in the participating credit unions are not subject to the provisions of the Insurance Article as a result of any of the activities of the credit union share guaranty corporation under this subtitle.
MD. Financial Institutions Code Ann. §  7-223 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-223 - Nonprofit Corporations

    A credit union share guaranty corporation that is a nonprofit corporation exempt from federal taxation under § 501(c)(6) of the Internal Revenue Code is exempt from all taxes imposed by the State or any of its subdivisions under:        (1)    §§ 20–101, 20–104, 20–108, 20–113 through 20–127, 20–601, 20–603 through 20–609, 20–805, and 20–806, and Title 20, Subtitles 3 through 5 of the Local Government Article;        (2)    Title 6, Subtitle 1 of the Insurance Article;        (3)    The Tax – General Article; or        (4)    The Tax – Property Article.
MD. Financial Institutions Code Ann. §  7-224 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 2 - Credit Union Share Guaranty Corporations|Section 7-224 - Rules and Regulations

    The Commissioner may adopt rules and regulations to carry out this subtitle.
MD. Financial Institutions Code Ann. §  8-101 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 1 - Definitions; Policy|Section 8-101 - Definitions

    (a)    In this title and in Title 9, the following words have the meanings indicated.    (b)    “Affiliate” means any corporation, business trust, statutory trust, association, partnership, sole proprietorship, or other similar organization or person of which an association or any officer, director, or controlling person of an association, directly or indirectly:        (1)    Owns or controls either a majority of the voting shares or controls in any manner the election of a majority of its directors, trustees, or other persons exercising similar functions; or        (2)    Otherwise controls the management of that organization.    (c)    “Control” means the ability of a person to direct the management or policies of an association or entity or elect a majority of a board of directors or the ownership of more than 10 percent of the outstanding shares of any class of securities of an association or interest in an entity.    (d)    “Controlling person” means any person or entity, acting directly or indirectly, individually or in concert with one or more other persons or entities, or through one or more subsidiaries, who:        (1)    Owns, controls, holds with power to vote, or holds proxies representing 10 percent or more of the voting shares, rights, or interests of any association or corporation; or        (2)    Controls in any manner the election or appointment of a majority of the directors of that association or corporation.    (e)    “Division Director” means the Director of the Division of Savings and Loan Associations.    (f)    “Holding company” means any company or other entity which directly or indirectly controls any other company, or other entity.    (g)    “Immediate family” means a spouse, child, child’s spouse, parent, sibling, grandparent, or grandchild.    (h)    “Related entity” means an affiliate, holding company, or subsidiary of a savings and loan association.    (i)    “Savings and loan association” or “association” means, unless the context clearly requires otherwise, a corporation that is chartered under the laws of this State as a savings and loan association.    (j)    “Secretary” means the Secretary of Labor.    (k)    “Subsidiary” means any company or other entity which is directly or indirectly controlled by any controlling person.
MD. Financial Institutions Code Ann. §  8-102 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 1 - Definitions; Policy|Section 8-102 - Legislative Policy

    (a)    In Title 9 of this article and this title the policy of this State is to provide for:        (1)    The protection of the interests of customers in savings and loan associations and the general public in the soundness and preservation of the industry;        (2)    The safety and soundness of the business of savings and loan associations;        (3)    The conservation of assets of savings and loan associations; and        (4)    Adequate rulemaking power and administrative discretion so that regulation and supervision of savings and loan associations may be flexible and readily responsive to changes in economic conditions and to changes in savings and loan priorities.    (b)    Title 9 of this article and this title embody standards to be observed by the Division Director in the exercise of the Director’s discretionary powers, in the adoption of regulations, in the examination and supervision of associations subject to Title 9, and in all matters of construction and application of Title 9 of this article and this title required for any determination or action of the Division Director.
MD. Financial Institutions Code Ann. §  8-103 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 1 - Definitions; Policy|Section 8-103 - Termination of Certain 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.
MD. Financial Institutions Code Ann. §  8-301 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|Section 8-301 - Division Established

    There is a Division of Savings and Loan Associations in the Maryland Department of Labor.
MD. Financial Institutions Code Ann. §  8-302 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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 bank or savings and loan association director or officer.    (d)    The Division Director is entitled to the salary provided in the State budget.
MD. Financial Institutions Code Ann. §  8-305 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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 is in the management service of the State Personnel Management System.
MD. Financial Institutions Code Ann. §  8-306 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|Section 8-306 - Oath

    Before taking office, the Division Director shall take the oath required by Article I, § 9 of the Maryland Constitution.
MD. Financial Institutions Code Ann. §  8-307 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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 Director, Division staff, and members of the immediate families of the Division Director and Division staff, as defined in § 5–101 of the General Provisions Article may not accept, directly or indirectly, any gift, gratuity, or remuneration of any type from any savings and loan association or related entity or from any director, officer, controlling person, employee, or agent of any savings and loan association or related entity.    (d)    (1)    The Division Director, Division staff, and members of the immediate families of the Division Director and Division staff as defined in § 5–101 of the General Provisions Article may not become indebted to any association or related entity that is subject to the jurisdiction of the Division Director.        (2)    Any person who violates any provision of this section is subject to forfeiture of that person’s office or employment in addition to any other penalty prescribed by law.    (e)    (1)    Subject to paragraph (2) of this subsection, nothing in this section may be construed to affect any contractual obligation, including a savings account, in existence before January 15, 1986.        (2)    (i)    All contractual obligations, including savings accounts, in existence before January 15, 1986, and the corresponding dollar amounts shall be fully disclosed to the Secretary of Labor.            (ii)    The Secretary of Labor shall file each disclosure with the State Ethics Commission.    (f)    For a period of 2 years after termination of employment with the Division of Savings and Loan Associations, if the Division Director or former deputy division director is employed by a Maryland savings and loan association or becomes a director, officer, attorney, or agent of a Maryland savings and loan association, that individual may not:        (1)    Represent, formally or informally, the association in any judicial, administrative, or other proceeding in which:            (i)    The Division of Savings and Loan Associations is a party; and            (ii)    The former Division Director or former deputy division director substantially participated;        (2)    Participate in any application submitted to the Division for the Division’s approval; or        (3)    Attempt to influence, or make any oral or written communication, on behalf of the association in any matter before the Division relating to the association in which the individual participated personally and substantially as Division Director or former deputy division director.
MD. Financial Institutions Code Ann. §  8-308 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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 of records, books, papers, contracts, and other documents; and        (3)    Issue subpoenas duces tecum.
MD. Financial Institutions Code Ann. §  8-309 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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 condition of the savings and loan industry, including any violations of this subtitle or Title 9 of this article and the regulations adopted under those titles; and            (iii)    As to the laws that the Division Director administers, amendments that the Division Director considers desirable.        (2)    The report is confidential and is not subject to disclosure in accordance with the provisions of Title 4, Subtitle 3, Part III of the General Provisions Article.    (b)    (1)    On June 30 of each year, the Division Director shall submit a report to the General Assembly in accordance with § 2–1257 of the State Government Article describing:            (i)    The operations of the Division Director’s office;            (ii)    The general condition of the savings and loan industry; and            (iii)    Any recommended legislative changes.        (2)    The report may include a summary of final enforcement actions taken by the Division Director but may not include pending investigations of violations of law reported under subsection (a) of this section.
MD. Financial Institutions Code Ann. §  8-310 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 3 - Division of Savings and Loan Associations|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.
MD. Financial Institutions Code Ann. §  8-402 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 4 - Orders and Hearings|Section 8-402 - Division Director's Hearing; Final Order

    (a)    Unless issued under § 8–401(e) of this subtitle, an order issued under this subtitle may not become effective until the savings and loan association or related entity named in the order has been given an opportunity for a hearing before the Division Director or the Division Director’s designee.    (b)    If the savings and loan association or related entity does not request a hearing within the time specified in § 8–401(b)(4) of this subtitle or does not appear at the scheduled hearing, the order becomes final.    (c)    (1)    After notifying the Secretary, the Division Director or the deputy division director may issue subpoenas compelling the attendance of witnesses or the production of records and documents at the hearing.        (2)    If any person fails to comply with the subpoena, the Division Director or deputy division director may apply to the Circuit Court for Baltimore City for an order holding the person in contempt. If the court finds that, without reasonable cause, the person has failed to comply with the subpoena, the court may find the person in contempt and punish the person as if for contempt of court.        (3)    The Division Director, the deputy division director, or the Division Director’s designee may administer an oath to witnesses.        (4)    The Division Director shall maintain a record of the testimony and exhibits admitted at the hearing.        (5)    The Division Director may adopt rules of procedure governing the conduct of hearings.        (6)    If the Division Director determines by regulation that a procedure required by Title 10, Subtitle 2 (Administrative Procedure Act – Contested Cases) of the State Government Article does not apply to hearings before the Division, hearings scheduled by the Division may be conducted without regard to the procedure.        (7)    The issuance of emergency orders in accordance with § 8–401(e) of this subtitle is not subject to Title 10, Subtitle 2 (Administrative Procedure Act – Contested Cases) of the State Government Article.    (d)    After the savings and loan association or related entity has been given an opportunity for a hearing, the Division Director or the Division Director’s designee shall issue a final order within 30 days after the conclusion of the hearing. The order:        (1)    Shall be mailed as provided in § 8–401 of this subtitle; and        (2)    Becomes final 30 days after issuance of the order.
MD. Financial Institutions Code Ann. §  8-403 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 4 - Orders and Hearings|Section 8-403 - Appeals From Orders of Division Director

    (a)    Any party aggrieved by a final order of the Division Director may appeal from the order to the Circuit Court for Baltimore City under Title 10, Subtitle 2 (Administrative Procedure Act - Contested Cases) of the State Government Article.    (b)    The filing of an appeal may not stay the effectiveness of the final order.
MD. Financial Institutions Code Ann. §  8-404 (2021)
2021 Maryland Statutes|Financial Institutions|Title 8 - Savings and Loan Associations -- Board of Commissioners and Division|Subtitle 4 - Orders and Hearings|Section 8-404 - Termination 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.