§ 9-425
66 words·~1 min read·
/md/financial-institutions/9-425A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–425.
(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”).