§ 9-504

Maryland § 9-504

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 9

Text

(a) Except as provided in this section, the Division Director and any authorized representative of the Division Director shall keep confidential any information about a savings and loan association and its business that is:

(1) Obtained in an examination of or report by a savings and loan association; or

(2) Reported to the Division Director by a federal or State regulatory or insuring agency.

(b) This section does not apply to information disclosed:

(1) In performing a public duty to report and take official action about the business of a savings and loan association;

(2) As required by law; or

(3) As collected general or statistical information about associations.

(c) If the Division Director considers it to be in the public interest, the results of an examination of or report by a savings and loan association may be published in a newspaper of general circulation in any political subdivision where the association is located or doing business.

(d) This section does not apply to a proper exchange of information about a savings and loan association and its business that is exchanged between the Division Director and the State of Maryland Deposit Insurance Fund Corporation, the Federal Home Loan Bank Board, the Federal Savings and Loan Insurance Corporation, or any similar agency that regulates or insures the business of savings and loan associations, the Attorney General’s Office, the Maryland Department of Labor, and the Office of the Governor of Maryland.

(e) Upon the request of a standing committee of the General Assembly with subject matter jurisdiction, the Division Director shall provide the standing committee with necessary confidential information.