(a) A savings and loan association shall provide a fidelity bond, in the amount that the Division Director requires, to cover each director, officer, employee, or agent of the association who has control over or access to cash or securities of the association.
(b) If a person fails to qualify for the bond required by subsection (a) of this section, the association shall remove the person from the position held by the person with the association.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 3 - Organization and Capitalization
Section 9-304 - Notice of Meeting
Section 9-305 - Quorum; Majority Rule
Section 9-306 - Statement of Financial Condition
Section 9-307 - Conflicts of Interest
Section 9-308 - Fidelity Bonds