Maryland § 4-206

§ 4-206.

    (a)    Except as otherwise provided in this article, a savings bank has all of the general powers granted to Maryland corporations under the Maryland General Corporation Law.

    (b)    In addition to the powers set forth elsewhere in this article, a savings bank may:

        (1)    Receive deposits of money from:

            (i)    Any person;

            (ii)    The federal government or its agencies; and

            (iii)    Any state or its political subdivisions;

        (2)    Pledge collateral to secure the deposits of:

            (i)    The federal government or its agencies; or

            (ii)    Any state or its political subdivisions;

        (3)    On good security:

            (i)    Invest deposits; and

            (ii)    Make loans from deposits;

        (4)    Subject to § 4-603 of this title:

            (i)    Borrow money; and

            (ii)    Pledge its assets to secure the debt;

        (5)    Rent its vaults or safe-deposit boxes and, in accordance with the rental agreement, permit deposits of property;

        (6)    Subject to § 5-503 of this article, buy, hold, and convey real property;

        (7)    Subject to § 4-604 of this title, act as trustee under:

            (i)    The federal Self-Employed Individuals Tax Retirement Act of 1962; or

            (ii)    The federal Employee Retirement Income Security Act of 1974;

        (8)    With the prior approval of the Commissioner, exercise the powers granted under § 3-207 of this article to a trust company; and

        (9)    Exercise all of the powers usual in carrying on a business of savings banking.