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2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 9-425 - Depository


MD Fin Inst Code § 9-425 (2013) What's This?

§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”).

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