Maryland Code, FINANCIAL INSTITUTIONS 4-101
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 4-101
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Mutual holding company” means the corporation which holds more than 50% of the stock of a subsidiary savings bank pursuant to a reorganization under Subtitle 8 of this title.
(c) (1) “Savings bank” means an institution that:
(i) Is incorporated under the laws of this State as a savings bank; and
(ii) Engages only in the business of savings banking.
(2) The term “savings bank” includes a subsidiary savings bank for the purpose of applying the provisions of this article.
(d) “Subsidiary savings bank” means an institution that:
(1) Is incorporated under the laws of this State as a subsidiary savings bank, all of the stock of which is owned by a mutual holding company;
(2) Engages only in the business of savings banking;
(3) Is a member of the Federal Deposit Insurance Corporation; and
(4) Is organized to receive assets and liabilities of a mutual holding company in accordance with this subtitle and Subtitle 9 of this title.