Md. Code, Financial Institutions § 9-218
This is the official text of Md. Code, Financial Institutions § 9-218, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§9–218.
Official statutory text
The incorporators of a savings and loan association shall deliver to their chairman, as savings accounts in the association, an aggregate amount in subscriptions of at least $1,000,000 or any greater amount that the Division Director determines is necessary to conduct a safe and sound operation at the proposed location of the principal office of the association in this State. The aggregate amount constitutes the initial subscription for savings accounts.
Status: in_force · Read it on the official government site
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