Ch. 2

LAWS OF MARYLAND

The word "deposits" is substituted for the former
reference to "free shares" to conform to § 8-303 of
this subtitle.

Defined terms: "Savings and loan

association" § 8-101
"Savings and loan association franchise

tax" § 1-101

8-304. RETURNS.

(A)  REQUIRED.

EACH SAVINGS AND LOAN ASSOCIATION THAT, ON DECEMBER 31,
HOLDS DEPOSITS ORIGINATING IN THE STATE SHALL FILE WITH THE
COMPTROLLER A SAVINGS AND LOAN ASSOCIATION FRANCHISE TAX RETURN,
ON OR BEFORE APRIL 15 OF THE NEXT YEAR.

(B)  OATH.

THE PRESIDENT, TREASURER, OR OTHER PROPER OFFICER OF A
SAVINGS AND LOAN ASSOCIATION SHALL SIGN, UNDER OATH, ITS
COMPLETED SAVINGS AND LOAN FRANCHISE TAX RETURN.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
128B(d)(l) and (2)(iii) .

In subsection (b) of this section, the reference to a
"completed" return is added as a general reference to
§ 2-104 of this article. See the revisor's note to
that section.

Defined terms: "Comptroller" § 1-101
"Savings and loan association" § 8-101
"Savings and loan association franchise
tax" § 1-101

8-305. TAX PAYMENT.

A SAVINGS AND LOAN ASSOCIATION SHALL PAY THE SAVINGS AND
LOAN ASSOCIATION FRANCHISE TAX WITH THE RETURN THAT COVERS THE
PERIOD FOR WHICH THE TAX IS DUE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
128B(e)(l).

The defined term "savings and loan association
franchise tax" is substituted for the former reference
to the franchise tax "under this section", for
clarity.

The phrase "with the return that covers the period for
which the tax is due" is substituted for the former

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