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§ 4-209. Payments to initial guaranty fund

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 4. Banking Institutions--Savings Banks
Subtitle 2. Formation and Powers (Refs & Annos)
MD Code, Financial Institutions, § 4-209
§ 4-209. Payments to initial guaranty fund
Currentness
In general
(a) Payment to the initial guaranty fund shall be:
(1) Made in money; and
(2) Evidenced by transferable deferred payment certificates.
Approval of Commissioner
(b) The approval of the Commissioner is required as to:
(1) The form of the transferable deferred payment certificates;
(2) The rate of interest that the holder of a certificate will be entitled to receive; and
(3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996.
MD Code, Financial Institutions, § 4-209, MD FIN INST § 4-209
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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