(a) Only a deposit association may issue savings deposit accounts. (b) A savings and loan association may become a deposit association if: (1) Its charter or bylaws provide; and (2) The Division Director approves.
Maryland Legal Code
(a) Only a deposit association may issue savings deposit accounts. (b) A savings and loan association may become a deposit association if: (1) Its charter or bylaws provide; and (2) The Division Director approves.