Section 4-208 - Initial guaranty fund requirements(a) Before the Commissioner issues a certificate to do business, a savings bank shall have an initial guaranty fund that equals at least:(1) The minimum amount of capital stock required for formation of a commercial bank in the municipal area of the proposed savings bank; and(2) Any greater amount that the Commissioner determines is necessary to keep the savings bank solvent.(b)(1) Before a savings bank establishes a branch, the savings bank shall have a guaranty fund as provided in this subsection.(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.(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:(i) 5 percent of its total deposits; and(ii) The minimum capital and surplus that is required for formation of a commercial bank in the municipal area of the proposed branch.