(a) The function of the Board is advisory.
(b) The Board shall give the Fund Director sound and impartial advice on:
(1) The approval or disapproval of applications by a member association;
(2) The administration of the State of Maryland Deposit Insurance Fund;
(3) Protection of the interest of the general public and of depositors in member associations; and
(4) Any other matter concerning the business of member associations.
(c) If the Fund Director does not follow the advice of the Board, the Fund Director shall send to the Board and the Secretary a written statement of the reason for the action.
Structure Maryland Statutes
Title 10 - State of Maryland Deposit Insurance Fund Corporation
Section 10-102 - Corporation Established
Section 10-103 - Appointment, Term, and Powers of Fund Director; Board of Directors
Section 10-103.1 - Advisory Function of Board
Section 10-105 - Authority of Secretary
Section 10-106 - Official Seal
Section 10-107 - Fund Director to Devote Full Time to Duties of Fund
Section 10-108 - Conflicts of Interest -- in General
Section 10-109 - Conflicts of Interest -- Other Prohibited Activities
Section 10-110 - State of Maryland Deposit Insurance Fund
Section 10-110.1 - Final Determination of Insurable Loss
Section 10-110.2 - Advances by State to Fund; Money Recovered by Fund
Section 10-111 - Membership -- Applications; Certification by Division Director
Section 10-112 - Membership -- Effective Upon Approval; Withdrawal; Accumulated Earnings Retained
Section 10-113 - Rules and Regulations; Withdrawal From Fund
Section 10-114 - Exchange of Information
Section 10-115 - Application of State Insurance Laws
Section 10-116 - Appropriation Policy
Section 10-117 - Eligibility for Membership -- Major Associations
Section 10-118 - Eligibility for Membership -- Other Associations