Maryland § 4-208
Full text of Maryland Maryland Code § 4-208, with citation guidance and answers to common questions.
§ 4-208.
(a) Before the Commissioner issues a certificate to do business, a savings bank shall have an initial guaranty fund that equals at least:
(1) The minimum amount of capital stock required for formation of a commercial bank in the municipal area of the proposed savings bank; and
(2) Any greater amount that the Commissioner determines is necessary to keep the savings bank solvent.
(b) (1) Before a savings bank establishes a branch, the savings bank shall have a guaranty fund as provided in this subsection.
(2) For a branch that is to be located inside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than 5 percent of its total deposits.
(3) For a branch that is to be located outside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than the sum of:
(i) 5 percent of its total deposits; and
(ii) The minimum capital and surplus that is required for formation of a commercial bank in the municipal area of the proposed branch.
Frequently Asked Questions About Maryland § 4-208
What does Maryland Code § 4-208 cover?
Section 4-208 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 4-208?
A common citation format is "Maryland Code § 4-208" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 4-208 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.