Section 9-901 - Membership in Maryland Deposit Insurance Fund or Federal Savings and Loan Insurance Corporation.
§ 9-901. Membership in Maryland Deposit Insurance Fund or Federal Savings and Loan Insurance Corporation.
A savings and loan association shall become and participate as a member in and have its savings accounts insured by the Maryland Deposit Insurance Fund Corporation or the Federal Savings and Loan Insurance Corporation. If membership in both corporations ceases, the association shall be placed in receivership in accordance with § 9-708 of this title.
[An. Code 1957, art. 23, § 150A; 1980, ch. 856; 1985, 1st Sp. Sess., ch. 6, § 1; 1986, ch. 282.]