Md. Code, Financial Institutions § 9-425
This is the official text of Md. Code, Financial Institutions § 9-425, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§9–425.
Official statutory text
(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”).
(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”).
Status: in_force · Read it on the official government site
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