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Maryland Code, Financial Institutions § 9-407

Current as of December 31, 2021 | Updated by FindLaw Staff

(a) As to any savings account that has a withdrawal value of less than $25, a savings and loan association:

(1) Need not pay a dividend or interest on the account; and

(2) May not charge a penalty or service charge.

(b) This section does not apply to a negotiable or transferable order of withdrawal account.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 9-407 - last updated December 31, 2021 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-9-407/

Read this complete Maryland Code, Financial Institutions § 9-407 on Westlaw. Westlaw subscription required.

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