# Financial Institutions (GFI)

## Title 4. Banking Institutions -- Savings Banks

### Subtitle 2. Formation and Powers

#### Section 4-209

(a) Payment to the initial guaranty fund shall be:

  (1) Made in money; and

  (2) Evidenced by transferable deferred payment certificates.

(b) The approval of the Commissioner is required as to:

  (1) The form of the transferable deferred payment certificates;

  (2) The rate of interest that the holder of a certificate will be entitled to receive; and

  (3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.

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