§ 9-218
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/md/financial-institutions/9-218·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–218.
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.