§ 4-209
78 words·~1 min read·
/md/financial-institutions/4-209A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–209.
(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.