Title 4. Banking Institutions -- Savings Banks — Subtitle 1. Definitions
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 4-101 (2026)
Title 4. Banking Institutions -- Savings Banks
Subtitle 1. Definitions
§ 4–101LinkCopy Citation
(a)
In this title the following words have the meanings indicated.
(b)
“Mutual holding company” means the corporation which holds more than 50% of the stock of a subsidiary savings bank pursuant to a reorganization under Subtitle 8 of this title.
(c)
(1)
“Savings bank” means an institution that:
(i)
Is incorporated under the laws of this State as a savings bank; and
(ii)
Engages only in the business of savings banking.
(2)
The term “savings bank” includes a subsidiary savings bank for the purpose of applying the provisions of this article.
(d)
“Subsidiary savings bank” means an institution that:
(1)
Is incorporated under the laws of this State as a subsidiary savings bank, all of the stock of which is owned by a mutual holding company;
(2)
Engages only in the business of savings banking;
(3)
Is a member of the Federal Deposit Insurance Corporation; and
(4)
Is organized to receive assets and liabilities of a mutual holding company in accordance with this subtitle and Subtitle 9 of this title.