{"data":{"id":"us-md/md.-code-financial-institutions-9-406","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–406","heading":"","body":"(a) Except as required by subsection (b) of this section, a savings and loan association is not required to pay any dividend or interest on special purpose accounts such as “Christmas” or “vacation” accounts.\n(b) A savings and loan association shall pay at least 5 percent annual interest or dividend on savings accounts that are for:\n(1) A period of 1 year or less; and\n(2) A special purpose, such as “Christmas” or “vacation” accounts.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-406","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"34b7bd447d8712018d62d3d0350ec5e2c7cd3b559a5ba178c546ea0eed5cfab9","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-405","next":"us-md/md.-code-financial-institutions-9-407"},"notice":"GroundRules: Original legal text. Not legal advice."}