§ 4-101. Definitions

   (a) In general. -- In this title the following words have the meanings indicated.

(b) Savings bank. --

   (1) "Savings bank" means an institution that:

      (i) Is incorporated under the laws of this State as a savings bank; and

      (ii) Engages only in the business of savings banking.

   (2) The term "savings bank" includes a subsidiary savings bank for the purpose of applying the provisions of this article.

(c) Subsidiary savings bank. -- "Subsidiary savings bank" means an institution that:

   (1) Is incorporated under the laws of this State as a subsidiary savings bank, all of the stock of which is owned by a mutual holding company;

   (2) Engages only in the business of savings banking;

   (3) Is a member of the Federal Deposit Insurance Corporation; and

   (4) Is organized to receive assets and liabilities of a mutual holding company in accordance with this subtitle and Subtitle 9 of this title.

(d) Mutual holding company. -- "Mutual holding company" means the corporation which holds more than 50% of the stock of a subsidiary savings bank pursuant to a reorganization under Subtitle 8 of this title.

HISTORY: 1986, ch. 355; 2003, ch. 21, § 7; 2004, ch. 342.