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Subtitle 1 - Definitions
Section 5-101 - Definitions - (a) In this title the following words have the meanings...
Subtitle 2 - Examinations and Reports
Section 5-201 - Examination of Institution - (a) An examiner shall visit each banking institution and examine...
Section 5-202 - Examination of Witnesses - (a) The Commissioner or deputy Commissioner may: (1) Summon any...
Section 5-203 - Annual Assessments on Banking Institutions - (a) The Commissioner shall impose annual assessments on each banking...
Section 5-204 - Acceptance of Federal Examination - Instead of making an examination under this subtitle, the Commissioner...
Section 5-205 - Independent Audits - The directors of a banking institution shall have a certified...
Section 5-206 - Reports of Financial Condition -- in General - (a) At least twice a year, the Commissioner shall ask...
Section 5-206.1 - Documents Submitted by Banking Institutions and National Banking Associations - (a) Within 30 days of receipt, a national banking association...
Section 5-207 - Reports of Financial Condition -- Special Reports - (a) At any time that the Commissioner considers necessary, the...
Section 5-208 - Civil Penalty for Failure to Make Report - (a) If a banking institution or an other–state bank fails...
Section 5-210 - Access to Records - An examiner shall have access to all the records of...
Subtitle 3 - Deposits
Section 5-301 - Time Account Services - Any banking institution may offer time account services to its...
Section 5-302 - Terms of Savings Accounts - (a) (1) As to the interest bearing account of each...
Section 5-305 - Deposits by Minors - If a deposit in a banking institution is made by...
Section 5-306 - Adverse Claim to Property Held by Bank - (a) Except as provided in subsection (b) of this section,...
Section 5-307 - Liability for Loss of Check - A banking institution is liable to the depositor for the...
Section 5-308 - Service Charges Prohibited if Withdrawals Restricted - A banking institution may not impose a service charge on...
Section 5-309 - Notice - (a) In this section, “payor institution” means a bank, credit...
Section 5-310 - Month and Year Account Opened to Appear on Checks; Exceptions - (a) Any checks provided directly or indirectly by a banking...
Subtitle 4 - Affiliates and Bank Service Corporations
Section 5-401 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-402 - Scope of Subtitle - This subtitle does not: (1) Affect any affiliate, if the...
Section 5-403 - Requirements for Affiliates - (a) Subject to this section, a banking institution may have...
Section 5-404 - Examination of Affiliate - The Commissioner has the same authority to examine the business...
Section 5-405 - Bank Service Corporation - (a) Except as provided in this section, or otherwise expressly...
Section 5-406 - Bank Service Corporation -- Examination - The Commissioner has the same authority to examine the business...
Section 5-407 - Bank Service Corporation -- Regulation - A banking institution may not permit any bank services to...
Subtitle 5 - Miscellaneous Regulations
Section 5-503 - Investment in Real Property and Furnishings - (a) A banking institution may buy and hold real property...
Section 5-504 - Additional Banking Activities and Bank-Related Services Authorized - (a) Notwithstanding any other provision of the laws or regulations...
Section 5-506 - Financial Information From Certain Borrowers - Before a banking institution makes an unsecured loan of $10,000...
Section 5-507 - Notice of Rejection of Application for Residential Mortgage - (a) If a banking institution rejects an application for a...
Section 5-508 - Elimination of Mortgage Insurance Charge When Principal Reduced - If a banking institution holds a first mortgage on residential...
Section 5-509 - Federal Deposit Insurance Corporation and Reserve System Memberships - (a) Each banking institution shall be a member of the...
Section 5-511 - Multiple Directorships - (a) Banking institutions may not have common directors unless the...
Section 5-512 - Loans to Directors, Officers, or Employees - (a) (1) In this section the following words have the...
Section 5-513 - Return of Checks for Customers With Truncated Checking Accounts - (a) (1) In this section the following words have the...
Subtitle 6 - Reorganizations
Section 5-601 - When Commissioner May Take Charge -- Banking Institutions - (a) The board of directors of any banking institution may...
Section 5-602 - When Commissioner May Take Charge -- Commercial Banks - (a) (1) If the Commissioner finds that the capital stock...
Section 5-602.1 - When Commissioner May Take Charge -- Nondepository Trust Company - (a) In this section, “insolvent” means: (1) Incapable of meeting...
Section 5-603 - Effect of Possession by Commissioner - As long as the Commissioner has possession of a banking...
Section 5-604 - Notice of Possession by Commissioner - After the Commissioner takes possession of a banking institution, the...
Section 5-604.1 - Payment of Expenses Related to Possession of Nondepository Trust Company - (a) All necessary and reasonable expenses of the Commissioner that...
Section 5-605 - Appointment of Receiver - (a) Within a reasonable time after the Commissioner takes possession...
Section 5-606 - Powers and Duties of Receiver - (a) (1) The receiver may appoint any clerks needed to...
Section 5-607 - Deposits Made by Receiver - (a) All money received by the receiver shall be deposited...
Section 5-608 - Legal Fees - If the court appoints an attorney to advise the receiver,...
Section 5-609 - Report of Commissioner to Court - Within 6 months after taking possession of any banking institution,...
Section 5-610 - Commissioner May Permit Reopening - As long as an examiner is in possession of any...
Section 5-611 - Plan of Reorganization -- Proposal - (a) The board of directors or the depositors representing not...
Section 5-612 - Plan of Reorganization -- Filing for Approval; Notice to Creditors; Objections to Plan; Withdrawal - (a) The plan of reorganization shall be filed with the...
Section 5-613 - Plan of Reorganization -- Consent of Political Subdivisions - With the consent of the local governing body of any...
Section 5-614 - Rights of Federal Deposit Insurance Corporation - (a) If the Federal Deposit Insurance Corporation is receiver of...
Section 5-615 - Preference for Property Held in Fiduciary Capacity - In the distribution of the general assets of a trust...
Subtitle 7 - Bank Holidays
Section 5-701 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-702 - Scope of Subtitle - For the purposes of this subtitle, the operation of an...
Section 5-703 - Required Business Days - (a) Except as provided in subsection (b) of this section,...
Section 5-704 - Sundays - Each banking institution shall be closed on Sunday.
Section 5-705 - Legal Holidays - (a) (1) Subject to paragraph (2) of this subsection, each...
Section 5-706 - Saturdays - (a) Saturday is an optional bank holiday. (b) A banking...
Section 5-707 - Emergencies - (a) In this section, “emergency” has the meaning stated in...
Section 5-708 - Action by Directors - A banking institution shall be open for business or shall...
Subtitle 8 - Prohibited Activities; Penalties
Section 5-801 - Removal of Director or Officer for Unsafe or Unsound Practices - (a) If the Commissioner believes that a director or officer...
Section 5-802 - Violations of Law - (a) If the Commissioner believes that a banking institution or...
Section 5-803 - False Records - (a) An officer, director, or employee of a bank, trust...
Section 5-804 - Acceptance of Deposits for Insolvent Institution - (a) An officer or employee of a banking institution may...
Section 5-805 - Derogatory Statements - (a) A person may not willfully make, circulate, or send...
Section 5-806 - Unauthorized Representation as Bank or Savings and Loan Association - (a) Except for a bank, trust company, savings bank, or...
Section 5-807 - Anticompetitive, Unfair, or Deceptive Practices - (a) A banking institution may not: (1) Issue an advertisement...
Section 5-808 - Cease and Desist Orders - (a) The Commissioner may order any banking institution to cease...
Section 5-808.1 - Cease and Desist Orders -- Civil Penalty - (a) After notice and a hearing, the Commissioner may assess...
Section 5-808.2 - Closed Hearing in Extraordinary Circumstances - (a) In this section, “extraordinary circumstances” means a situation presenting...
Section 5-809 - Injunction - On application by the Commissioner, a court of competent jurisdiction...
Subtitle 9 - Bank Holding Companies
Section 5-901 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-902 - Scope of Subtitle - This subtitle sets forth the conditions under which a bank...
Section 5-903 - Prohibited Acquisitions; Notice to Commissioner - (a) Except as otherwise expressly permitted by federal law, no...
Section 5-904 - Application for Acquisition; Forms for Applications, Notice, and Reports - (a) A bank holding company that proposes to make an...
Section 5-905 - Approval of Application -- Factors Considered; Limitations - (a) In deciding whether to approve an application under §...
Section 5-906 - Approval of Application -- Time Limits - (a) The Commissioner shall decide whether to approve an application...
Section 5-907 - Reports - (a) To the extent specified by the Commissioner by regulation...
Section 5-908 - Enforcement - The Commissioner may enforce the provisions of this subtitle by...
Section 5-910 - Severability - If any provision of this subtitle or the application thereof...
Subtitle 10 - Branch Banking
Section 5-1001 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-1002 - Scope of Subtitle - This subtitle sets forth the conditions under which: (1) An...
Section 5-1003 - Establishment of Branch -- in Maryland - (a) A banking institution or an out–of–state bank may establish...
Section 5-1004 - Establishment of Branch -- in Another State - A banking institution may establish a branch in another state...
Section 5-1005 - Establishment of Branch -- Prerequisites - (a) Except as provided in subsection (b) of this section,...
Section 5-1006 - Approval of Branch -- Considerations - (a) Subject to subsection (b) of this section, in deciding...
Section 5-1007 - Approval of Branch -- Time Limitations - (a) The Commissioner shall decide whether to approve the establishment...
Section 5-1008 - Powers and Rights of Branches; Engaging in Business With Banks - (a) A banking institution that establishes a branch in another...
Section 5-1009 - Examinations and Supervision - (a) Subject to § 5-1012 of this subtitle, the Commissioner...
Section 5-1010 - Enforcement Actions - (a) Subject to § 5-1012 of this subtitle, if the...
Section 5-1011 - Reports of Condition and Income - Subject to § 5-1012 of this subtitle, the Commissioner may...
Section 5-1012 - Cooperation With Other State or Federal Regulators - With respect to the supervision, enforcement, and reporting requirements of...
Section 5-1013 - Transactions Resulting in 30 Percent or More Control of Deposits - (a) Except as provided in this section, the Commissioner may...
Section 5-1014 - Out-of-State Banks - (a) An out-of-state bank that proposes to establish a branch...
Section 5-1015 - Severability - If any provision of this subtitle or the application thereof...
Subtitle 11 - Savings and Loan Associations -- Emergency Interstate Acquisitions
Section 5-1101 - Definitions - (a) In this subtitle the following words have the meanings...
Section 5-1101.1 - Effective Period of Subtitle - The provisions of this subtitle which authorize an out–of–state bank...
Section 5-1102 - Scope of Subtitle - (a) This subtitle sets forth the conditions under which an...
Section 5-1103 - Conditions for Acquisition and Conversion; Documents Submitted - (a) An out–of–state bank holding company may acquire one or...
Section 5-1104 - Powers of Commissioner to Consummate Acquisition - If the Commissioner deems it appropriate in order to consummate...
Section 5-1105 - Powers of and Restrictions on Commercial Bank Acquired Under Subtitle - (a) Except as provided in subsections (b), (c), (d), and...
Section 5-1106 - Powers of Commissioner as to Plan of Acquisition - (a) Notwithstanding any other provisions of law to the contrary,...
Section 5-1107 - Indemnification of Claims; Release of State of Maryland Deposit Insurance Fund Corporation; Repayment of Indebtedness to Formermaryland Savings-Share Insurance Corporation or State of Maryland Deposit Insurance Fund Corporation - Upon and after the acquisition of each savings and loan...