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§ 4-303. Profit determinations and interest payments

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 4. Banking Institutions--Savings Banks
Subtitle 3. Guaranty Fund; Deposits (Refs & Annos)
MD Code, Financial Institutions, § 4-303
§ 4-303. Profit determinations and interest payments
Currentness
Interest payments
(a) A savings bank may pay interest on its deposits only from its profits, after deducting expenses for management, losses, necessary credits to premium accounts, taxes, and required additions to the guaranty fund.
Charge offs from premium of bond
(b) In determining its profits, a savings bank is not required, as to any bond that it buys or holds, to charge off from the premium of the bond more than an amount proportionate to the life of the bond.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980.
Formerly Art. 11, § 43.
MD Code, Financial Institutions, § 4-303, MD FIN INST § 4-303
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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