Title 4. Banking Institutions -- Savings Banks — Subtitle 4. Members
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 4-401 (2026)
Title 4. Banking Institutions -- Savings Banks
Subtitle 4. Members
§ 4–401LinkCopy Citation
Unless organized as a subsidiary savings bank, as defined in this title, a savings bank is a mutual association and may not have any capital stock.
Md. Code Ann., Fin. Inst. § 4-402 (2026)
Title 4. Banking Institutions -- Savings Banks
Subtitle 4. Members
§ 4–402LinkCopy Citation
(a)
The bylaws of a savings bank shall provide for annual meetings of the members to:
(1)
Elect directors;
(2)
Elect members, unless the charter of the savings bank provides for a different method of electing members; and
(3)
Transact other business.
(b)
The bylaws of a subsidiary savings bank shall provide for annual meetings of the stockholders to:
(1)
Elect directors; and
(2)
Transact other business.