There is a newer version of the Maryland Code
Maryland Financial Institutions Section 4-908
§ 4-908.
  After providing for due or accrued expenses, losses, interest, and taxes, the board of directors of a subsidiary savings bank may declare a cash dividend only from the following:
    (1)   Its undivided profits; or
    (2)   With the approval of the Commissioner, its surplus in excess of 100 percent of its required capital stock.
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