Md. Code Ann., Fin. Inst. § 9-315
Rights of deposit account holders
Effective Jun 1, 1986Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1981, c. 2, § 3; Acts 1986, c. 282, eff. June 1, 1986.State of Maryland
- (a) 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) 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.
Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1981, c. 2, § 3; Acts 1986, c. 282, eff. June 1, 1986.