Maryland Financial Institutions Section 9-405
§ 9-405.
  (a)   Dividends or interest on a savings certificate account or other type of fixed term account shall be:
    (1)   Subject to the approval of the Division Director; and
    (2)   In accordance with the rules and regulations of the Division Director.
  (b)   Within 45 days of the request, the Division Director shall approve an association's request to pay a dividend or interest under this section if:
    (1)   Earnings of the association are sufficient to pay the proposed dividend for a period of at least 1 year; and
    (2)   The public interest is protected.
  (c)   An applicant aggrieved by the action or nonaction of the Division Director under this section may appeal to the appropriate circuit court.