Maryland § 9-407
Full text of Maryland Maryland Code § 9-407, with citation guidance and answers to common questions.
§ 9-407.
(a) As to any savings account that has a withdrawal value of less than $25, a savings and loan association:
(1) Need not pay a dividend or interest on the account; and
(2) May not charge a penalty or service charge.
(b) This section does not apply to a negotiable or transferable order of withdrawal account.
Frequently Asked Questions About Maryland § 9-407
What does Maryland Code § 9-407 cover?
Section 9-407 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 § 9-407?
A common citation format is "Maryland Code § 9-407" (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 § 9-407 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.