Maryland § 9-405
Full text of Maryland Maryland Code § 9-405, with citation guidance and answers to common questions.
§ 9-405.
(a) Dividends or interest on a savings certificate account or other type of fixed term account shall be:
(1) Subject to the approval of the Division Director; and
(2) In accordance with the rules and regulations of the Division Director.
(b) Within 45 days of the request, the Division Director shall approve an association’s request to pay a dividend or interest under this section if:
(1) Earnings of the association are sufficient to pay the proposed dividend for a period of at least 1 year; and
(2) The public interest is protected.
(c) An applicant aggrieved by the action or nonaction of the Division Director under this section may appeal to the appropriate circuit court.
Frequently Asked Questions About Maryland § 9-405
What does Maryland Code § 9-405 cover?
Section 9-405 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 § 9-405?
A common citation format is "Maryland Code § 9-405" (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 § 9-405 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.