Maryland Statutes
Subtitle 3 - Capital Stock; Surplus Requirements; Stockholders
Section 3-306 - Maintenance of Surplus; Losses

(a)    If the surplus of a commercial bank at any time is less than 100 percent of its capital stock, then, until the surplus is 100 percent of the capital stock, the commercial bank:
        (1)    Shall transfer to its surplus annually at least 10 percent of its net earnings; and
        (2)    May not declare or pay any cash dividends that exceed 90 percent of its net earnings.
    (b)    Any losses of a commercial bank that exceed its undivided profits may be charged to its surplus.

Structure Maryland Statutes