Maryland Code, FINANCIAL INSTITUTIONS 9-101
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 9-101
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- including: means includes or including by way of illustration and not by way of limitation. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Capital stock” means capital stock issued by a capital stock association.
(c) “Capital stock association” means a savings and loan association that has authority under this title to issue capital stock.
(d) “Claim” means:
(1) A right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured; or
(2) A right to an equitable remedy for breach of performance if the breach gives rise to a right to payment, whether or not the right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured, or unsecured.
(e) “Deposit association” means a savings and loan association that has savings deposit accounts.
(f) “Division Director” means the Commissioner.
(g) “Employee” does not include a controlling person, director, or officer of an association.
(h) “Federal association” means:
(1) A savings and loan association that is incorporated under the laws of the United States; or
(2) A federal savings bank that operates under the jurisdiction of the Federal Home Loan Bank Board and whose accounts are insured by the Federal Savings and Loan Insurance Corporation.
(i) “Fund Director” means the Director of the State of Maryland Deposit Insurance Fund Corporation.
(j) “Mutual association” means a savings and loan association that does not have authority to issue capital stock.
(k) “Net worth certificate” means a capital instrument issued by a savings and loan association for the purpose of increasing or maintaining the capital of the association.
(l) (1) “Savings account” means that part of the savings liability of a savings and loan association that is credited to the account of the holder of the account.
(2) “Savings account” includes a savings certificate account or any other fixed term account.
(m) “Savings and loan association” has the meaning stated in § 8-101 of this article.
(n) “Savings deposit account” means a savings account that:
(1) Is a liability of a deposit association to the extent of its withdrawal value; and
(2) Is not a share interest in a savings and loan association.
(o) “Savings liability” means the aggregate amount of savings accounts of savings account holders, including earnings credited to the accounts.
(p) “Savings share account” means a savings account that is a share interest in a savings and loan association.
(q) “Secretary” has the meaning stated in § 8-101 of this article.
(r) “Statutory merger” means the transfer of all or substantially all of the assets of a corporation which transfer is:
(1) Subject to all or substantially all of the liabilities of the transferor; and
(2) Followed by the dissolution of the transferor corporation.
(s) “Unsecured days funds” has the meaning stated in the rules and regulations of the Federal Home Loan Bank Board that apply to savings associations insured by the Federal Savings and Loan Insurance Corporation.