# Financial Institutions (GFI)

## Title 4. Banking Institutions -- Savings Banks

### Subtitle 9. Subsidiary Savings Banks

#### Section 4-908

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.

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