Maryland Financial Institutions Section 9-407

Article - Financial Institutions

§ 9-407.

      (a)      As to any savings account that has a withdrawal value of less than $25, a savings and loan association:

            (1)      Need not pay a dividend or interest on the account; and

            (2)      May not charge a penalty or service charge.

      (b)      This section does not apply to a negotiable or transferable order of withdrawal account.



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