Md. Code, Financial Institutions § 9-704
This is the official text of Md. Code, Financial Institutions § 9-704, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§9–704.
Official statutory text
(a) A savings and loan association shall pay the expenses of operation during its conservatorship.
(b) Except as provided in subsection (c) of this section, a savings and loan association shall pay its conservator the compensation that the court determines.
(c) The Division Director or an examiner from the Division of Savings and Loan Associations may not receive additional compensation as conservator of a savings and loan association.
(d) Unless authorized by the court, the conservator of a savings and loan association may not:
(1) Retain special counsel;
(2) Incur other than normal operating expenses; or
(3) Liquidate any assets except in the normal course of operation.
(b) Except as provided in subsection (c) of this section, a savings and loan association shall pay its conservator the compensation that the court determines.
(c) The Division Director or an examiner from the Division of Savings and Loan Associations may not receive additional compensation as conservator of a savings and loan association.
(d) Unless authorized by the court, the conservator of a savings and loan association may not:
(1) Retain special counsel;
(2) Incur other than normal operating expenses; or
(3) Liquidate any assets except in the normal course of operation.
Status: in_force · Read it on the official government site
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