§ 9-407
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/md/financial-institutions/9-407A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–407.
(a)As to any savings account that has a withdrawal value of less than $25, a savings and loan association:
(1)Need not pay a dividend or interest on the account; and
(2)May not charge a penalty or service charge.
(b)This section does not apply to a negotiable or transferable order of withdrawal account.