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<section article="gfi" article_name="Financial Institutions" number="9-101" title_number="9" title_name="Savings and Loan Associations" subtitle_number="1" subtitle_name="Definitions; General Prohibition">
  <level label="a">
    <text>In this title the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <text>“Capital stock” means capital stock issued by a capital stock association.</text>
  </level>
  <level label="c">
    <text>“Capital stock association” means a savings and loan association that has authority under this title to issue capital stock.</text>
  </level>
  <level label="d">
    <text>“Claim” means:</text>
    <level label="1">
      <text>A right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or</text>
    </level>
    <level label="2">
      <text>A right to an equitable remedy for breach of performance if the breach gives rise to a right to payment, whether or not the right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured.</text>
    </level>
  </level>
  <level label="e">
    <text>“Deposit association” means a savings and loan association that has savings deposit accounts.</text>
  </level>
  <level label="f">
    <text>“Division Director” means the Commissioner.</text>
  </level>
  <level label="g">
    <text>“Employee” does not include a controlling person, director, or officer of an association.</text>
  </level>
  <level label="h">
    <text>“Federal association” means:</text>
    <level label="1">
      <text>A savings and loan association that is incorporated under the laws of the United States; or</text>
    </level>
    <level label="2">
      <text>A federal savings bank that operates under the jurisdiction of the Federal Home Loan Bank Board and whose accounts are insured by the Federal Savings and Loan Insurance Corporation.</text>
    </level>
  </level>
  <level label="i">
    <text>“Fund Director” means the Director of the State of Maryland Deposit Insurance Fund Corporation.</text>
  </level>
  <level label="j">
    <text>“Mutual association” means a savings and loan association that does not have authority to issue capital stock.</text>
  </level>
  <level label="k">
    <text>“Net worth certificate” means a capital instrument issued by a savings and loan association for the purpose of increasing or maintaining the capital of the association.</text>
  </level>
  <level label="l">
    <level label="1">
      <text>“Savings account” means that part of the savings liability of a savings and loan association that is credited to the account of the holder of the account.</text>
    </level>
    <level label="2">
      <text>“Savings account” includes a savings certificate account or any other fixed term account.</text>
    </level>
  </level>
  <level label="m">
    <text>“Savings and loan association” has the meaning stated in § 8–101 of this article.</text>
  </level>
  <level label="n">
    <text>“Savings deposit account” means a savings account that:</text>
    <level label="1">
      <text>Is a liability of a deposit association to the extent of its withdrawal value; and</text>
    </level>
    <level label="2">
      <text>Is not a share interest in a savings and loan association.</text>
    </level>
  </level>
  <level label="o">
    <text>“Savings liability” means the aggregate amount of savings accounts of savings account holders, including earnings credited to the accounts.</text>
  </level>
  <level label="p">
    <text>“Savings share account” means a savings account that is a share interest in a savings and loan association.</text>
  </level>
  <level label="q">
    <text>“Secretary” has the meaning stated in § 8–101 of this article.</text>
  </level>
  <level label="r">
    <text>“Statutory merger” means the transfer of all or substantially all of the assets of a corporation which transfer is:</text>
    <level label="1">
      <text>Subject to all or substantially all of the liabilities of the transferor; and</text>
    </level>
    <level label="2">
      <text>Followed by the dissolution of the transferor corporation.</text>
    </level>
  </level>
  <level label="s">
    <text>“Unsecured days funds” has the meaning stated in the rules and regulations of the Federal Home Loan Bank Board that apply to savings associations insured by the Federal Savings and Loan Insurance Corporation.</text>
  </level>
</section>
