Maryland Statutes
Subtitle 3 - Capital Stock; Surplus Requirements; Stockholders
Section 3-304 - Loans on and Acquisitions of Own Stock Prohibited

(a)    Except as necessary to prevent a loss on a loan previously made in good faith, a commercial bank may not:
        (1)    Make any loan secured by any of its outstanding capital stock; or
        (2)    Buy or hold any of its outstanding capital stock.
    (b)    If a commercial bank buys or holds any of its outstanding capital stock, the commercial bank shall sell the stock at public or private sale within:
        (1)    1 year after the date of acquisition; or
        (2)    Any longer period that the Commissioner authorizes.

Structure Maryland Statutes