Current with changes from the 2024 Legislative Session
Section 4-101 - Definitions(a) In this title the following words have the meanings indicated.(b) "Mutual holding company" means the corporation which holds more than 50% of the stock of a subsidiary savings bank pursuant to a reorganization under Subtitle 8 of this title.(c)(1) "Savings bank" means an institution that: (i) Is incorporated under the laws of this State as a savings bank; and(ii) Engages only in the business of savings banking.(2) The term "savings bank" includes a subsidiary savings bank for the purpose of applying the provisions of this article.(d) "Subsidiary savings bank" means an institution that:(1) Is incorporated under the laws of this State as a subsidiary savings bank, all of the stock of which is owned by a mutual holding company;(2) Engages only in the business of savings banking;(3) Is a member of the Federal Deposit Insurance Corporation; and(4) Is organized to receive assets and liabilities of a mutual holding company in accordance with this subtitle and Subtitle 9 of this title.