Section 9-1101 - "Mutual association" defined. - Maryland Statutes

§ 9-1101. "Mutual association" defined.
 

In this subtitle, "mutual association" means an association that: 

(1) Is a corporation chartered under the laws of the State as a savings and loan association that does not have the authority to issue capital stock; 

(2) Is insured by the State of Maryland Deposit Insurance Corporation; and 

(3) Has assets of $15,000,000 or less or had total assets of less than $15,000,000 as of May 18, 1985. 
 

[1988, ch. 635.]