Maryland Financial Institutions Section 4-208

      (a)      Before the Commissioner issues a certificate to do business, a savings bank shall have an initial guaranty fund that equals at least:

            (1)      The minimum amount of capital stock required for formation of a commercial bank in the municipal area of the proposed savings bank; and

            (2)      Any greater amount that the Commissioner determines is necessary to keep the savings bank solvent.

      (b)      (1)      Before a savings bank establishes a branch, the savings bank shall have a guaranty fund as provided in this subsection.

            (2)      For a branch that is to be located inside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than 5 percent of its total deposits.

            (3)      For a branch that is to be located outside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than the sum of:

                  (i)      5 percent of its total deposits; and

                  (ii)      The minimum capital and surplus that is required for formation of a commercial bank in the municipal area of the proposed branch.