Maryland § 9-701
Full text of Maryland Maryland Code § 9-701, with citation guidance and answers to common questions.
§ 9-701.
(a) With the prior written approval of the Secretary, the Division Director may institute proceedings in the circuit court in the county where the principal office of a savings and loan association is located for the appointment of a conservator if:
(1) The savings and loan association or related entity fails to comply with a final order of the Division Director; or
(2) The Division Director considers that the appointment of a conservator is in the public interest.
(b) Subject to § 9-709 of this subtitle, a court may appoint the Division Director, deputy division director, or an examiner from the Division of Savings and Loan Associations as conservator if the court finds that a savings and loan association or related entity is:
(1) In an impaired or insolvent condition;
(2) In substantial violation of any law or regulation;
(3) Concealing any of its assets or records or refusing to submit its records or affairs for inspection to an examiner or lawful agent or the Division Director;
(4) Conducting an unsafe or unsound operation;
(5) In violation of any final order;
(6) In need of the appointment of a conservator in order to preserve the assets of the savings and loan association for the benefit of the depositors and creditors; or
(7) Eligible for conservatorship under the provisions of Title 10 of this article.
Frequently Asked Questions About Maryland § 9-701
What does Maryland Code § 9-701 cover?
Section 9-701 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 9-701?
A common citation format is "Maryland Code § 9-701" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 9-701 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.