{"data":{"id":"us-md/md.-code-financial-institutions-9-223","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–223","heading":"","body":"If the attempt to incorporate a savings and loan association is unsuccessful:\n(1) The chairman of the incorporators shall refund amounts paid to the initial accounts under this subtitle, except that the expense fund and paid-in surplus accounts are first subject to all reasonable expenses; and\n(2) The Division Director shall release the surety bond of the chairman of the incorporators when the Director has satisfactory assurance that:\n(i) All expenses have been paid; and\n(ii) All amounts under item (1) of this section have been refunded.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-223","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"b18b58056c190b093406e004949d06c30c1f286a0a34043ebc96b61328001726","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-222","next":"us-md/md.-code-financial-institutions-9-224"},"notice":"GroundRules: Original legal text. Not legal advice."}