(a) (1) If the Commissioner finds that the capital stock account of any commercial bank is impaired because of a loss or for any other reason, the Commissioner, by notice to the board of directors of the commercial bank, may require the commercial bank to correct the impairment.
(2) If the commercial bank fails to correct the impairment within 3 months after the board receives the notice, the Commissioner may take possession of the commercial bank, including its property, records, and business.
(b) (1) If the reserves of any commercial bank fall below the amount required under this article:
(i) The commercial bank may not increase its loans or discounts until the deficiency is corrected, except by discounting or buying drafts payable at sight or on demand; and
(ii) The Commissioner, by notice to the board of directors of the commercial bank, shall require the commercial bank to correct the deficiency.
(2) If the commercial bank fails to correct the deficiency within 30 days after the board receives the notice, the Commissioner may take possession of the commercial bank, including its property, records, and business.
Structure Maryland Statutes
Title 5 - Banking Institutions -- General Provisions
Section 5-601 - When Commissioner May Take Charge -- Banking Institutions
Section 5-602 - When Commissioner May Take Charge -- Commercial Banks
Section 5-602.1 - When Commissioner May Take Charge -- Nondepository Trust Company
Section 5-603 - Effect of Possession by Commissioner
Section 5-604 - Notice of Possession by Commissioner
Section 5-604.1 - Payment of Expenses Related to Possession of Nondepository Trust Company
Section 5-605 - Appointment of Receiver
Section 5-606 - Powers and Duties of Receiver
Section 5-607 - Deposits Made by Receiver
Section 5-609 - Report of Commissioner to Court
Section 5-610 - Commissioner May Permit Reopening
Section 5-611 - Plan of Reorganization -- Proposal
Section 5-613 - Plan of Reorganization -- Consent of Political Subdivisions
Section 5-614 - Rights of Federal Deposit Insurance Corporation
Section 5-615 - Preference for Property Held in Fiduciary Capacity