§ 4–908
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 4-908 (2026)
Title 4. Banking Institutions -- Savings Banks
Subtitle 9. Subsidiary Savings Banks
§ 4–908LinkCopy Citation
After providing for due or accrued expenses, losses, interest, and taxes, the board of directors of a subsidiary savings bank may declare a cash dividend only from the following:
(1)
Its undivided profits; or
(2)
With the approval of the Commissioner, its surplus in excess of 100 percent of its required capital stock.