Maryland Statutes
Subtitle 6 - Reorganizations
Section 5-605 - Appointment of Receiver

(a)    Within a reasonable time after the Commissioner takes possession of a banking institution, the Commissioner, in the name of this State, shall petition an equity court in the county where the banking institution has its principal banking office to:
        (1)    Take jurisdiction over the banking institution; and
        (2)    Subject to subsection (b) of this section, appoint as receiver:
            (i)    An examiner; or
            (ii)    The Federal Deposit Insurance Corporation.
    (b)    (1)    The Commissioner may petition for appointment of the Federal Deposit Insurance Corporation as receiver only of a banking institution that the Corporation insures.
        (2)    Appointment of the Federal Deposit Insurance Corporation becomes effective when the Corporation files with the court and the court approves a certificate of acceptance.
    (c)    A receiver shall provide any bond that the court requires.
    (d)    If an examiner is appointed receiver, the examiner:
        (1)    May not receive further compensation for services as receiver; but
        (2)    Subject to order of the court, is entitled to reimbursement for expenses for legal and clerical help and travel.

Structure Maryland Statutes