Maryland Code, Financial Institutions § 9-328

(a) Subject to regulation of the Division Director, the board of directors of each savings and loan association shall allocate the profits of the association, at least annually, at the times the bylaws provide.

(b) The board of directors of each savings and loan association shall:

(c) To determine the amount of net profits, the board of directors shall deduct items from gross income in accordance with generally accepted accounting principles.

(d) By regulation the Division Director may permit or deny other items to be included in, or deducted from, gross income.