Maryland Financial Institutions Section 9-425

      (a)      A savings and loan association may:

            (1)      Act as a depository of funds of:

                  (i)      The federal government and its agencies; and

                  (ii)      This State and any of its political subdivisions;

            (2)      Pledge collateral to secure deposits; and

            (3)      Comply with the terms required by the depositor.

      (b)      Depositors under this section are general creditors under § 9-329 of this title ("Priority of claims").