Md. Code, Financial Institutions § 4-303
This is the official text of Md. Code, Financial Institutions § 4-303, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§4–303.
Official statutory text
(a) A savings bank may pay interest on its deposits only from its profits, after deducting expenses for management, losses, necessary credits to premium accounts, taxes, and required additions to the guaranty fund.
(b) In determining its profits, a savings bank is not required, as to any bond that it buys or holds, to charge off from the premium of the bond more than an amount proportionate to the life of the bond.
(b) In determining its profits, a savings bank is not required, as to any bond that it buys or holds, to charge off from the premium of the bond more than an amount proportionate to the life of the bond.
Status: in_force · Read it on the official government site
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