Maryland § 9-302
Full text of Maryland Maryland Code § 9-302, with citation guidance and answers to common questions.
§ 9-302.
(a) The business and affairs of a savings and loan association shall be managed under the direction of a board of directors.
(b) A savings and loan association shall have at least 5 directors, as its charter or bylaws provide.
(c) (1) Each director of a savings and loan association shall be:
(i) A citizen of the United States; and
(ii) A member of the association or the holder of a savings account in the association.
(2) At least two-thirds of the directors shall be residents of this State.
(3) Each nonresident director shall be approved by the Division Director as qualified to serve.
(d) Subsection (c)(1)(ii) of this section does not apply to any member of a board of directors who was serving on a board before July 1, 1980.
Frequently Asked Questions About Maryland § 9-302
What does Maryland Code § 9-302 cover?
Section 9-302 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 § 9-302?
A common citation format is "Maryland Code § 9-302" (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 § 9-302 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.