Md. Code, Financial Institutions § 4-908

Md. Code, Financial Institutions § 4-908
in effect
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After providing for due or accrued expenses, losses, interest, and taxes, the board of directors of a subsidiary savings bank may declare a cash dividend only from the following: (1) Its undivided profits; or (2) With the approval of the Commissioner, its surplus in excess of 100 percent of its required capital stock.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi&section=4-908&enactments=falseFetched: 10/17/2026

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