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Section 9-315 - Rights of Owner of Deposit Account — Maryland Law | CourtGPT
  1. Home/
  2. Laws/
  3. Maryland/
  4. Financial Institutions - Title 1 - Definitions; General Provisions/
  5. Title 9 - Savings and Loan Associations/
  6. Subtitle 3 - Organization and Capitalization/
  7. Part III - Capital Structure of Associations -- Deposit Association/
  8. Section 9-315 - Rights of Owner of Deposit Account
Maryland Legal Code

Section 9-315 - Rights of Owner of Deposit Account

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(a) The holder of a savings deposit account in a savings and loan association has the same claim priority in any distribution of assets on liquidation as a general creditor of the deposit association to the extent of the deposit account’s withdrawal value. (b) In addition to subsection (a) of this section, the holder of a savings deposit account has the same rights as the owner of a savings share account, including any membership or voting rights and the right to share in any distribution of remaining assets on liquidation.