Md. Code, Financial Institutions § 9–425

(a) A savings and loan association may:

(1) Act as a depository of funds of:

(i) The federal government and its agencies; and

(ii) This State and any of its political subdivisions;

(2) Pledge collateral to secure deposits; and

(3) Comply with the terms required by the depositor.

(b) Depositors under this section are general creditors under § 9-329 of this title (“Priority of claims”).