(a) If the Federal Deposit Insurance Corporation is receiver of a banking institution, the Corporation may:
(1) Operate the trust department of the institution; and
(2) Liquidate the institution as provided in this subtitle or under federal law.
(b) (1) This subsection applies whether or not the Federal Deposit Insurance Corporation is the receiver of the banking institution.
(2) If the Federal Deposit Insurance Corporation pays the insured deposit liabilities of a banking institution, it is subrogated to the rights of the depositors against the institution to the same extent as it would be subrogated to the rights of the depositors against a closed national banking association under federal law.
(3) The rights of the depositors and creditors of the banking institution are governed by the laws of this State.
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