(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.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.