(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”).
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Subtitle 4 - General Powers and Provisions
Part II - General Provisions -- Operations
Section 9-416 - Adverse Claim to Money
Section 9-419 - Investments Authorized
Section 9-420 - Specific Limitations on Authorized Investments
Section 9-421 - Alternative Mortgage Instruments
Section 9-422 - Title to Investments; Exception
Section 9-423 - Right to Hold Investments
Section 9-424 - Expenses Charged Borrowers
Section 9-426 - Trustee or Custodian Under Federal Retirement Acts