§ 9-1101. "Mutual association" defined

Latest version.

   In this subtitle, "mutual association" means an association that:

   (1) Is a corporation chartered under the laws of the State as a savings and loan association that does not have the authority to issue capital stock;

   (2) Is insured by the State of Maryland Deposit Insurance Corporation; and

   (3) Has assets of $ 15,000,000 or less or had total assets of less than $ 15,000,000 as of May 18, 1985.

HISTORY: 1988, ch. 635.

                    
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