{"data":{"id":"us-md/md.-code-financial-institutions-4-206","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 4–206","heading":"","body":"(a) Except as otherwise provided in this article, a savings bank has all of the general powers granted to Maryland corporations under the Maryland General Corporation Law.\n(b) In addition to the powers set forth elsewhere in this article, a savings bank may:\n(1) Receive deposits of money from:\n(i) Any person;\n(ii) The federal government or its agencies; and\n(iii) Any state or its political subdivisions;\n(2) Pledge collateral to secure the deposits of:\n(i) The federal government or its agencies; or\n(ii) Any state or its political subdivisions;\n(3) On good security:\n(i) Invest deposits; and\n(ii) Make loans from deposits;\n(4) Subject to § 4-603 of this title:\n(i) Borrow money; and\n(ii) Pledge its assets to secure the debt;\n(5) Rent its vaults or safe-deposit boxes and, in accordance with the rental agreement, permit deposits of property;\n(6) Subject to § 5-503 of this article, buy, hold, and convey real property;\n(7) Subject to § 4-604 of this title, act as trustee under:\n(i) The federal Self-Employed Individuals Tax Retirement Act of 1962; or\n(ii) The federal Employee Retirement Income Security Act of 1974;\n(8) With the prior approval of the Commissioner, exercise the powers granted under § 3-207 of this article to a trust company; and\n(9) Exercise all of the powers usual in carrying on a business of savings banking.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=4-206","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"a0642dfe45764c64020ef9458bd3a75ac8fd2e85644f51bbc97139dfc31cbcf1","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-4-205","next":"us-md/md.-code-financial-institutions-4-207"},"notice":"GroundRules: Original legal text. Not legal advice."}