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LAWS OF MARYLAND

Ch. 33

(I)   THE FEDERAL GOVERNMENT OR ITS
AGENCIES; OR

(II)   ANY STATE OR ITS POLITICAL
SUBDIVISIONS;

(3) ON GOOD SECURITY:

(I)       INVEST DEPOSITS; AND

(II)       MAKE LOANS FROM DEPOSITS;

(4)    SUBJECT TO § 4-603 OF THIS TITLE:

(I)       BORROW MONEY; AND

(II)       PLEDGE ITS ASSETS TO SECURE THE DEBT;

(5)       RENT ITS VAULTS OR SAFE-DEPOSIT BOXES AND,
IN ACCORDANCE WITH THE RENTAL AGREEMENT, PERMIT DEPOSITS OF
PROPERTY;

(6)       SUBJECT TO § 5-503 OF THIS ARTICLE, BUY,
HOLD, AND CONVEY REAL PROPERTY;

(7)       SUBJECT TO § 4-604 OF THIS TITLE, ACT AS
TRUSTEE UNDER:

(I)      THE FEDERAL SELF-EMPLOYED INDIVIDUALS
TAX RETIREMENT ACT OF 1962; OR

(II)       THE FEDERAL EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974; AND

(8)       EXERCISE ALL OF THE POWERS USUAL IN CARRYING
ON A BUSINESS OF SAVINGS BANKING.

REVISOR'S NOTE: Subsection (a) of this section is new
language added as a reference to CA § 2—103,
which enumerates the general powers of a Maryland
corporation. Under § 1—201 of this article, the
Maryland General Corporation Law applies to
savings banks, except as the provisions of this
article are inconsistent.

Subsection (b) of this section is new Language
derived without substantive change from the first
sentence of Art. 11, § 41(a), Art. 11, § 41(b),
the first and fourth sentences of Art. 11, §
41(c), the first two clauses of Art. 11, § 41(e),
and Art. 11, § 41(f)(1)and (2).

In subsection (b)(1) of this section, the
reference in present Art. 11, § 41(a) to deposits
of "bodies corporate" is deleted as unnecessary
in light of the definition of "person" in § 1-101