During 1985, several State-chartered savings and loan associations, whose deposits were insured by the Maryland Savings-Share Insurance Corporation (MSSIC), experienced unusually heavy withdrawals of funds by depositors which caused a substantial decline in their liquid assets. As a result, MSSIC was appointed by the Circuit Court of Baltimore City to act as conservator for two of the associations.

On May 17,1985, the Maryland General Assembly enacted legislation creating the State of Maryland Deposit Insurance Fund Corporation (MDIFC), an agency of the State of Maryland Department of Licensing and Regulation and the successor by statutory merger to MSSIC. The savings accounts of all associations operating in the State were to be insured by either MDIFC or the Federal Savings and Loan Insurance Corporation (FSLIC). The enabling legislation also established July 1,1989, as the date by which all member associations were to obtain alternative insurance or liquidate.

This series is the material created or collected in the administration of the Maryland Deposit Insurance Fund Corporation records transferred to the State Archives.