Maryland § 4-804
Full text of Maryland Maryland Code § 4-804, with citation guidance and answers to common questions.
§ 4-804.
(a) In connection with the reorganization of a savings bank into a mutual holding company pursuant to this subtitle and with the approval of the Commissioner, the mutual holding company may retain assets to the extent that they are not then required by the subsidiary savings bank to satisfy State or federal capital or reserve requirements.
(b) After reorganization pursuant to this subtitle, a mutual holding company shall:
(1) Continue to possess and may exercise all general corporate powers; and
(2) Be subject to all limitations not inconsistent with this section, of a savings bank under the laws of this State.
(c) A mutual holding company shall hold more than 50% of the stock of a subsidiary savings bank or savings and loan association acquired pursuant to this subtitle.
(d) Without limiting any powers it may have under this section or any other laws of this State, a mutual holding company may acquire the assets or stock of a savings and loan association with the prior approval of the Commissioner pursuant to the determinations required under § 4-803(e)(2) of this subtitle.
(e) A mutual holding company may not take deposits.
Frequently Asked Questions About Maryland § 4-804
What does Maryland Code § 4-804 cover?
Section 4-804 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 § 4-804?
A common citation format is "Maryland Code § 4-804" (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 § 4-804 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.