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Maryland Code, Financial Institutions § 9-704

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 9-704 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-9-704/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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