Maryland Statutes
Financial Institutions
Title 3 - Banking Institutions -- Commercial Banks

Section 3-203 - Articles of Incorporation -- Filing for Examination and Approval - (a) The incorporators shall file with the Commissioner for examination...

Section 3-203.1 - Articles of Incorporation -- Fingerprint Requirements - (a) In this section, “executive officer” has the meaning stated...

Section 3-204 - Articles of Incorporation -- Filing for Record - (a) If the Commissioner approves the articles of incorporation, the...

Section 3-205 - Corporate Status; Perpetual Existence - (a) When articles of incorporation are filed for record in...

Section 3-206 - General Powers of Commercial Bank - (a) Except as otherwise provided in this article, a commercial...

Section 3-207 - Additional Powers of Trust Company - In addition to the powers set forth elsewhere in this...

Section 3-208 - Certification Before Beginning Business - A commercial bank may not do business until it receives...

Section 3-209 - Minimum Capital Requirements -- Commercial Banks - (a) (1) Before the Commissioner issues a certificate to do...

Section 3-211 - Capital Payments Before Beginning Business - Except as otherwise provided by law, payment for capital stock...

Section 3-211.1 - Receivership -- Nondepository Trust Company - (a) In this section, “receivership” means a proceeding in which:...

Section 3-212 - Examination Before Certification - (a) After its articles of incorporation are filed for record...

Section 3-213 - Charter Amendments - (a) Any commercial bank may amend its charter, in any...

Subtitle 3 - Capital Stock; Surplus Requirements; Stockholders

Section 3-301 - Capital Stock in General - (a) A subscription for the original capital stock of a...

Section 3-302 - Preferred Stock - (a) If the Commissioner approves, a commercial bank may issue...

Section 3-303 - Loans for Stock Subscription - A commercial bank may not make any loan the proceeds...

Section 3-304 - Loans on and Acquisitions of Own Stock Prohibited - (a) Except as necessary to prevent a loss on a...

Section 3-305 - Reduction of Capital - (a) A reduction of the outstanding capital stock of a...

Section 3-306 - Maintenance of Surplus; Losses - (a) If the surplus of a commercial bank at any...

Section 3-307 - Cash Dividends - (a) The board of directors of a commercial bank may...

Section 3-308 - Stock Dividends - (a) The board of directors of a commercial bank may...

Section 3-309 - Stock Ledger - (a) (1) Each commercial bank shall keep a stock ledger,...

Section 3-310 - Annual Meeting of Stockholders - (a) The annual meeting of the stockholders of a commercial...

Section 3-311 - Oath of Stockholder Before Voting - (a) On demand of a stockholder, a person may not...

Section 3-312 - Debt Instruments - (a) If the Commissioner approves, a commercial bank may issue...

Section 3-314 - Approval of Commissioner of Certain Stock Transactions - (a) (1) In this section the following words have the...

Section 3-315 - Loans Secured by Stock - (a) Except as provided in subsection (b) of this section,...

Section 3-316 - Preemptive Rights of Stockholders - (a) Unless the charter provides otherwise, a stockholder does not...

Subtitle 4 - Directors and Officers

Section 3-401 - Management of Commercial Bank - The business and affairs of a commercial bank shall be...

Section 3-402 - Number of Directors - Each commercial bank shall have at least 5 and not...

Section 3-403 - Qualifications of Directors - (a) (1) After the initial issuance of capital stock by...

Section 3-404 - Oath of Directors - Each director of a commercial bank shall take an oath:...

Section 3-405 - Election of Directors - (a) Until successors are elected and qualify, the board of...

Section 3-406 - Attendance at Board Meetings - (a) Each director of a commercial bank shall attend at...

Section 3-407 - Vacancies - The board of directors of a commercial bank may fill...

Section 3-408 - Quorum of Directors - (a) A majority of the directors of a State bank...

Section 3-409 - Officers - (a) Within 15 days after the annual meeting of the...

Subtitle 5 - Common Trust Funds

Section 3-501 - Definitions - (a) In this subtitle the following words have the meanings...

Section 3-502 - Establishment of Fund - A trust company may establish and administer one or more...

Section 3-503 - Powers of Trust Company - The fiduciary capacities of a trust company referred to in...

Section 3-504 - Fund Plans in General - (a) A trust company shall establish and maintain a common...

Section 3-505 - Required Provisions for Fund Plans - Except as provided in § 3-507 of this subtitle, a...

Section 3-506 - Optional Provisions for Fund Plans - (a) A fund plan may provide for: (1) The amortization...

Section 3-507 - Optional Method of Administration - Notwithstanding any other provision of this subtitle, a trust company...

Section 3-508 - Filing of Fund Plan; Inspection; Copying - (a) A copy of the fund plan and any amendments...

Section 3-509 - Amendment of Fund Plan - A fund plan may be amended only: (1) Prospectively; and...

Section 3-510 - Investment in Fund - A trust company, acting in a fiduciary capacity, may invest...

Section 3-511 - Cofiduciaries - (a) A trust company may invest in a common trust...

Section 3-512 - Limitations on Investments and Interests - (a) Except as otherwise provided in this section, a trust...

Section 3-513 - Fund Entry and Withdrawal; Valuation; Distribution - (a) Entry into and withdrawal from participation in a common...

Section 3-514 - Evidence of Participation in Fund - (a) (1) A trust company that administers a common trust...

Section 3-515 - Fund Management; Management Fees - (a) The trust company that establishes a common trust fund...

Section 3-516 - Valuation Dates; Audits; Special Accounting - (a) For each common trust fund that it administers, a...

Section 3-517 - Ownership of Assets; Records - (a) The ownership of and title to the individual assets...

Section 3-518 - Registration of Assets in Name of Nominee - (a) A trust company may register in the name of...

Section 3-519 - Investment of Fund Assets - A trust company may invest the assets of a common...

Section 3-520 - Transfer of Assets From a Common Trust Fund - (a) A transfer agent or a transferee of an asset...

Subtitle 6 - Miscellaneous Regulations

Section 3-601 - Maximum Liabilities of Person to Commercial Bank - (a) This section does not apply to: (1) Any readily...

Section 3-604 - Acceptance of Drafts - (a) A commercial bank may accept for payment at a...

Section 3-605 - Owning and Leasing Personal Property - (a) This section does not apply to a leasehold interest...

Section 3-606 - Restrictions on Certification of Drafts - (a) An officer, employee, or agent of a commercial bank...

Section 3-607 - Reserves - (a) (1) In this section the following words have the...

Subtitle 7 - Consolidations, Mergers, and Transfers of Assets

Part I - In General

Section 3-701 - Definitions - (a) In this subtitle the following words have the meanings...

Section 3-702 - Scope of Subtitle - (a) Any bank may, as provided in this subtitle: (1)...

Section 3-703 - Agreement of Consolidation, Merger, or Transfer - (a) An agreement of consolidation, merger, or transfer of assets...

Section 3-704 - Public Notice of Filing - (a) (1) Except as provided in subsection (b) of this...

Section 3-705 - When Commissioner to Act - Within 6 months after the papers specified in § 3–703(c)...

Section 3-706 - Standards for Approval by Commissioner - (a) The Commissioner shall approve the agreement if: (1) The...

Section 3-707 - Disapproval by Commissioner - If the Commissioner disapproves an agreement, the Commissioner shall give...

Section 3-708 - Approval by Stockholders - (a) The agreement shall be submitted to the stockholders of...

Section 3-709 - Certificate of Consolidation, Merger, or Transfer of Assets - (a) When the executed agreement and a copy of the...

Section 3-710 - Recording of Documents - (a) The successor shall act promptly to file and record...

Section 3-711 - Charter and Bylaws of Successor in Merger - The stockholders’ approval of a merger agreement constitutes the adoption...

Section 3-712 - Effect of Consolidation or Merger - (a) Consummation of a consolidation or merger has the effects...

Section 3-713 - Effect of Transfer of Assets - Consummation of a transfer of assets has the effects provided...

Part II - Rights of Objecting Stockholders

Section 3-718 - Successor May Offer Fair Value - (a) The successor in a consolidation, merger, or transfer of...

Section 3-719 - Right to Fair Value - (a) The owner of shares of stock that were voted...

Section 3-720 - Appraisal of Fair Value - (a) The fair value of the shares of stock shall...

Section 3-721 - Amount Due Is Debt of Successor - Any amount due to an objecting stockholder under this Part...

Subtitle 8 - Conversions and Voluntary Dissolutions

Section 3-801 - Conversion of National Banking Association, Federal Stock Savings and Loan Association, or Federal Stock Savings Bank Into a Commercial Bank - (a) (1) In this section the following words have the...

Section 3-802 - Conversion of Commercial Bank Into National Banking Association - (a) Any commercial bank may convert into a national banking...

Section 3-803 - Voluntary Dissolution -- in General - (a) A commercial bank may dissolve voluntarily, if the stockholders...

Section 3-804 - Voluntary Dissolution -- Preference for Property Held in Fiduciary Capacity - In the distribution of the general assets of a trust...

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Maryland Statutes Financial Institutions Title 3 - Banking Institutions -- Commercial Banks

Maryland Statutes
Financial Institutions
Title 3 - Banking Institutions -- Commercial Banks