Maryland Financial Institutions Section 9-702

      (a)      A conservator shall endeavor to correct the irregularities in the operation of a savings and loan association.

      (b)      In addition to the powers set forth in this subtitle and the powers granted by order of the court, a conservator may exercise any or all of the following powers:

            (1)      If authorized by the court, exercise the powers, rights, and privileges of the officers, directors, members, and stockholders of the savings and loan association;

            (2)      Recommend for the court's adoption a plan of reorganization, composition, or rearrangement of business, including its liabilities and capital structure;

            (3)      Remove any director, officer, or employee of the savings and loan association;

            (4)      Borrow from, pledge assets to, and repay a Federal Reserve Bank or other lenders;

            (5)      Make wire transfers;

            (6)      To the extent authorized by law or court order, pay withdrawals of deposits;

            (7)      Pay negotiated order of withdrawal drafts and cashiers checks either directly or repay financial institutions on which the cashiers checks may be drawn;

            (8)      Receive new deposits including direct deposit of United States Treasury, Social Security, and other payments;

            (9)      Pay a Federal Reserve Bank or other bank cash to fund withdrawals;

            (10)      Pay employees and necessary day-to-day operating expenses of the institution;

            (11)      If authorized by the court, approve, in place of shareholders or members, a merger, conversion, transfer of assets, reorganization, or acquisition of the savings and loan association; and

            (12)      If authorized by the court, request a stay of proceedings in other courts.