Section 9-313 - Savings share accounts. - Maryland Statutes

§ 9-313. Savings share accounts.
 

(a)  Authority to issue.- If its charter or bylaws provide, a savings and loan association that is not a deposit association may issue savings share accounts. 

(b)  Unlimited number of shares.- Notwithstanding any provision in its charter or bylaws before July 1, 1980 on the number of savings share accounts, a savings and loan association that is not a deposit association may accept subscriptions and payment for an unlimited number of savings share accounts without other corporate action. 
 

[CA § 6-212; 1980, ch. 856; 1986, ch. 282.]