§ 12-210
107 words·~1 min read·
/md/financial-institutions/12-210A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–210.
(a)A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3–year term as provided in this section.
(b)Before its permit expires, the foreign banking corporation may renew the permit for additional 3–year terms if the foreign banking corporation:
(1)At least 30 days before its permit expires submits to the Commissioner a renewal application on the form that the Commissioner requires; and
(2)Meets the requirements for issuance of a permit under § 12–209 of this subtitle.
(c)The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.