{"data":{"id":"us-md/md.-code-financial-institutions-4-208","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 4–208","heading":"","body":"(a) Before the Commissioner issues a certificate to do business, a savings bank shall have an initial guaranty fund that equals at least:\n(1) The minimum amount of capital stock required for formation of a commercial bank in the municipal area of the proposed savings bank; and\n(2) Any greater amount that the Commissioner determines is necessary to keep the savings bank solvent.\n(b) (1) Before a savings bank establishes a branch, the savings bank shall have a guaranty fund as provided in this subsection.\n(2) For a branch that is to be located inside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than 5 percent of its total deposits.\n(3) For a branch that is to be located outside the municipal area of the principal banking office of the savings bank, the savings bank shall have a guaranty fund of not less than the sum of:\n(i) 5 percent of its total deposits; and\n(ii) The minimum capital and surplus that is required for formation of a commercial bank in the municipal area of the proposed branch.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=4-208","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"92901e709fd4a71ae551512175c03ca898d017f76f49b339d9f0c961a3b9808e","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-4-207","next":"us-md/md.-code-financial-institutions-4-209"},"notice":"GroundRules: Original legal text. Not legal advice."}