Maryland Financial Institutions Section 4-209

      (a)      Payment to the initial guaranty fund shall be:

            (1)      Made in money; and

            (2)      Evidenced by transferable deferred payment certificates.

      (b)      The approval of the Commissioner is required as to:

            (1)      The form of the transferable deferred payment certificates;

            (2)      The rate of interest that the holder of a certificate will be entitled to receive; and

            (3)      The terms under which and the pro rata installments by which the holder of a certificate will be repaid.