# Financial Institutions (GFI)

## Title 4. Banking Institutions -- Savings Banks

### Subtitle 1. Definitions

#### Section 4-101

(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.

---

Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)