Section 4-101 - Definitions. - Maryland Statutes

§ 4-101. Definitions.
 

(a)  In general.- In this title the following words have the meanings indicated. 

(b)  Savings bank.-  

(1) "Savings bank" means an institution that: 

(i) Is incorporated under the laws of this State as a savings bank; and 

(ii) Engages only in the business of savings banking. 

(2) The term "savings bank" includes a subsidiary savings bank for the purpose of applying the provisions of this article. 

(c)  Subsidiary savings bank.- "Subsidiary savings bank" means an institution that: 

(1) Is incorporated under the laws of this State as a subsidiary savings bank, all of the stock of which is owned by a mutual holding company; 

(2) Engages only in the business of savings banking; 

(3) Is a member of the Federal Deposit Insurance Corporation; and 

(4) Is organized to receive assets and liabilities of a mutual holding company in accordance with this subtitle and Subtitle 9 of this title. 

(d)  Mutual holding company.- "Mutual holding company" means the corporation which holds more than 50% of the stock of a subsidiary savings bank pursuant to a reorganization under Subtitle 8 of this title. 
 

[1986, ch. 355; 2003, ch. 21, § 7; 2004, ch. 342.]