Maryland Code, FINANCIAL INSTITUTIONS 10-101
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 10-101
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Association” means a corporation or mutual association that is chartered under the laws of this State as a savings and loan association.
(c) “Board” means the Board of Directors of the State of Maryland Deposit Insurance Fund Corporation.
(d) “Division Director” means the Director of the Division of Savings and Loan Associations.
(e) “Federal insurance” means insurance provided by the Federal Savings and Loan Insurance Corporation.
(f) “Fund” means the State of Maryland Deposit Insurance Fund Corporation.
(g) “Fund Director” means the Director of the State of Maryland Deposit Insurance Fund Corporation.
(h) “Insured institution” means:
(1) A national banking association, a federal savings bank, or a banking institution incorporated as a State bank, trust company, savings bank, or other similar institution, whether under the laws of this or any other state, the deposits of which are insured by the Federal Deposit Insurance Corporation; or
(2) A federal savings and loan association, a federal savings bank, a savings and loan association, a building and loan association, or a similar institution incorporated under the laws of this or any other state, the deposits of which are insured by the Federal Savings and Loan Insurance Corporation.
(i) “Major association” means an association with total assets of $40,000,000 or more.
(j) “Member association” means an association that is a member of the State of Maryland Deposit Insurance Fund Corporation.
(k) “Savings account” means a savings share account, a savings deposit account, or any other deposit in an association.