(a) If the Commissioner believes that a banking institution or any of its directors, officers, trustees, managers, agents, or employees has violated any provision of this article that relates to the institution, the Commissioner immediately shall report the violation to the Secretary of Labor, who shall ask the Attorney General to take the appropriate steps to institute a prosecution for the violation.
(b) (1) The Commissioner shall send a warning to a director or officer of a banking institution who the Commissioner believes has violated any provision of this article that relates to the institution.
(2) If, after the warning, the director or officer continues to violate the law, the director or officer may be removed as provided in § 5–801 of this subtitle.
(c) Unless another penalty specifically is provided elsewhere in this article, any banking institution and any director, officer, trustee, manager, agent, or employee of a banking institution who violates any provision of this article that relates to the institution is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both.
Structure Maryland Statutes
Title 5 - Banking Institutions -- General Provisions
Subtitle 8 - Prohibited Activities; Penalties
Section 5-801 - Removal of Director or Officer for Unsafe or Unsound Practices
Section 5-802 - Violations of Law
Section 5-804 - Acceptance of Deposits for Insolvent Institution
Section 5-805 - Derogatory Statements
Section 5-806 - Unauthorized Representation as Bank or Savings and Loan Association
Section 5-807 - Anticompetitive, Unfair, or Deceptive Practices
Section 5-808 - Cease and Desist Orders
Section 5-808.1 - Cease and Desist Orders -- Civil Penalty
Section 5-808.2 - Closed Hearing in Extraordinary Circumstances