§ 9–425

Statutes in effect as of October 1, 2026.

Md. Code Ann., Fin. Inst. § 9-425 (2026)

Title 9. Savings and Loan Associations

Subtitle 4. General Powers and Provisions

(a)

A savings and loan association may:

(1)

Act as a depository of funds of:

(i)

The federal government and its agencies; and

(ii)

This State and any of its political subdivisions;

(2)

Pledge collateral to secure deposits; and

(3)

Comply with the terms required by the depositor.

(b)

Depositors under this section are general creditors under § 9-329 of this title (“Priority of claims”).