Current with changes from the 2024 Legislative Session
Section 6-201 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Banking institution" means an institution that is incorporated under the laws of the State as a State bank, trust company, or savings bank.(c) "Collateral" means collateral that is listed under § 6-202 of this subtitle.(d) "Deposit insurance" means insurance by: (1) the Federal Deposit Insurance Corporation; or(2) the Resolution Trust Corporation created under § 21A of the Federal Home Loan Bank Act (12 U.S.C. § 1441a.).(e) "Financial institution" means: (1) any banking institution;(2) any national banking association;(3) an institution that is incorporated under the laws of any other state as a bank; or(4) an institution that is incorporated under the laws of this State or of the United States as a savings and loan association.(f) "National banking association" means an institution that is incorporated under federal law as a bank.(g) "State money" for purposes of §§ 6-209 and 6-210 of this subtitle includes money in a bank account maintained under the control of an employee or official of the clerk of the court or register of wills.Amended by 2023 Md. Laws, Ch. 255, Sec. 5, eff. 5/3/2023.Amended by 2023 Md. Laws, Ch. 254, Sec. 5, eff. 5/3/2023.