Maryland Financial Institutions Section 4-206

      (a)      Except as otherwise provided in this article, a savings bank has all of the general powers granted to Maryland corporations under the Maryland General Corporation Law.

      (b)      In addition to the powers set forth elsewhere in this article, a savings bank may:

            (1)      Receive deposits of money from:

                  (i)      Any person;

                  (ii)      The federal government or its agencies; and

                  (iii)      Any state or its political subdivisions;

            (2)      Pledge collateral to secure the deposits of:

                  (i)      The federal government or its agencies; or

                  (ii)      Any state or its political subdivisions;

            (3)      On good security:

                  (i)      Invest deposits; and

                  (ii)      Make loans from deposits;

            (4)      Subject to § 4-603 of this title:

                  (i)      Borrow money; and

                  (ii)      Pledge its assets to secure the debt;

            (5)      Rent its vaults or safe-deposit boxes and, in accordance with the rental agreement, permit deposits of property;

            (6)      Subject to § 5-503 of this article, buy, hold, and convey real property;

            (7)      Subject to § 4-604 of this title, act as trustee under:

                  (i)      The federal Self-Employed Individuals Tax Retirement Act of 1962; or

                  (ii)      The federal Employee Retirement Income Security Act of 1974;

            (8)      With the prior approval of the Commissioner, exercise the powers granted under § 3-207 of this article to a trust company; and

            (9)      Exercise all of the powers usual in carrying on a business of savings banking.