{"data":{"id":"us-md/md.-code-financial-institutions-9-405","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–405","heading":"","body":"(a) Dividends or interest on a savings certificate account or other type of fixed term account shall be:\n(1) Subject to the approval of the Division Director; and\n(2) In accordance with the rules and regulations of the Division Director.\n(b) Within 45 days of the request, the Division Director shall approve an association’s request to pay a dividend or interest under this section if:\n(1) Earnings of the association are sufficient to pay the proposed dividend for a period of at least 1 year; and\n(2) The public interest is protected.\n(c) An applicant aggrieved by the action or nonaction of the Division Director under this section may appeal to the appropriate circuit court.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-405","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"6aea4fadf004d3cc5cb059f8734c87186500ccff6771e76dd7e029284b5ccf85","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-404","next":"us-md/md.-code-financial-institutions-9-406"},"notice":"GroundRules: Original legal text. Not legal advice."}