Section 9-315 - Rights of owner of deposit account. - Maryland Statutes

§ 9-315. Rights of owner of deposit account.
 

(a)  Claim priority of deposit account.- The holder of a savings deposit account in a savings and loan association has the same claim priority in any distribution of assets on liquidation as a general creditor of the deposit association to the extent of the deposit account's withdrawal value. 

(b)  Membership, voting, and distribution rights.- In addition to subsection (a) of this section, the holder of a savings deposit account has the same rights as the owner of a savings share account, including any membership or voting rights and the right to share in any distribution of remaining assets on liquidation. 
 

[1980, ch. 856; 1981, ch. 2, § 3; 1986, ch. 282.]