# Financial Institutions (GFI)

## Title 9. Savings and Loan Associations

### Subtitle 4. General Powers and Provisions

#### Section 9-407

(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.

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