Md. Code, Financial Institutions § 4-209
This is the official text of Md. Code, Financial Institutions § 4-209, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§4–209.
Official statutory text
(a) Payment to the initial guaranty fund shall be:
(1) Made in money; and
(2) Evidenced by transferable deferred payment certificates.
(b) The approval of the Commissioner is required as to:
(1) The form of the transferable deferred payment certificates;
(2) The rate of interest that the holder of a certificate will be entitled to receive; and
(3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.
(1) Made in money; and
(2) Evidenced by transferable deferred payment certificates.
(b) The approval of the Commissioner is required as to:
(1) The form of the transferable deferred payment certificates;
(2) The rate of interest that the holder of a certificate will be entitled to receive; and
(3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.
Status: in_force · Read it on the official government site
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