§ 9–407

Statutes in effect as of October 1, 2026.

Md. Code Ann., Fin. Inst. § 9-407 (2026)

Title 9. Savings and Loan Associations

Subtitle 4. General Powers and Provisions

(a)

As to any savings account that has a withdrawal value of less than $25, a savings and loan association:

(1)

Need not pay a dividend or interest on the account; and

(2)

May not charge a penalty or service charge.

(b)

This section does not apply to a negotiable or transferable order of withdrawal account.