Maryland Financial Institutions Section 4-604

      (a)      In this section, "federal act" means:

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

            (2)      The federal Employee Retirement Income Security Act of 1974.

      (b)      A savings bank may act as trustee of a plan under either federal act, as provided in this section.

      (c)      A savings bank may:

            (1)      Accept a trust under a plan that:

                  (i)      Constitutes a qualified plan under a federal act and the rules and regulations adopted under it; and

                  (ii)      Requires the exclusive investment of trust funds in deposits of a mutual savings institution; and

            (2)      Continue as trustee of a plan that is determined not to be or ceases to be a qualified plan, if, when the savings bank accepted the trust, the savings bank judged the plan to be a qualified plan.

      (d)      A savings bank that is acting as trustee of a plan under a federal act:

            (1)      May integrate the trust funds with its other deposits; and

            (2)      Shall keep appropriate, detailed records of all transactions in which it engages as trustee.