All sources · 39,874 documents · Table of contents · Financial Institutions · Financial Institutions
Maryland
Financial Institutions
953 entries
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§1–101. (a) In this article, unless the context clearly requires otherwise, the following words have…
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§1–201. Except as otherwise expressly provided by this article, the Maryland General Corporation Law…
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§1–202. (a) A requirement in this article that a document be acknowledged means that the document sh…
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§1–203. Before any license or permit may be issued under this article to an employer to engage in an…
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§1–204. (a) A provision in an account agreement for a transfer on death in compliance with this sect…
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§1–205. (a) (1) In this section the following words have the meanings indicated. (2) “Compliance rev…
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§1–206. (a) In this section, “fiduciary deposit surety bond” means a surety bond that: (1) Guarantee…
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§1–208. (a) The directors and officers of a financial institution shall develop and implement writte…
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§1–209. (a) Only the State may enact a law which purports to regulate extensions of credit made by a…
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§1–210. (a) (1) In this section the following words have the meanings indicated. (2) “Account agreem…
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§1–211. (a) (1) In this section the following words have the meanings indicated. (2) “Depository ins…
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§1–212. If a financial institution requires a customer to provide an answer to a security question i…
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§1–213. (a) (1) In this section the following words have the meanings indicated. (2) “Credit union” …
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§1–301. (a) In this subtitle the following words have the meanings indicated. (b) (1) “Fiduciary ins…
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§1–302. Except as otherwise expressly provided in this subtitle, a fiduciary institution, its office…
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§1–303. This subtitle does not prohibit: (1) The preparation, examination, handling, or maintenance …
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§1–304. (a) In this section, “subpoena” means a subpoena, summons, warrant, or court order that appe…
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§1–305. (a) Any officer, employee, agent, or director of a fiduciary institution who knowingly and w…
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§1–306. (a) (1) In this section the following words have the meanings indicated. (2) “Abuse report” …
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§1–401. (a) In this subtitle the following words have the meanings indicated. (b) (1) “Access area” …
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§1–402. (a) (1) (i) This section does not apply to any person: 1. Whose primary function is to provi…
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§1–402.1. (a) This section does not apply to an automated teller machine that is: (1) Located inside…
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§1–403. (a) Subject to this section, a banking institution or credit union may have an automated tel…
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§1–404. (a) At or before the time a transaction is initiated, the operator of an automated teller ma…
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§1–405. (a) “Foreign banking corporation” has the meaning stated in § 12-201(e) of this article. (b)…
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§1–406. (a) Only the State may enact a law regarding automated teller machines. (b) This subtitle sh…
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§2–101. (a) There is a Commissioner of Financial Regulation in the Maryland Department of Labor. (b)…
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§2–102. (a) The Commissioner is appointed by the Secretary of Labor with the approval of the Governo…
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§2–103. (a) With the approval of the Secretary of Labor, the Commissioner shall appoint: (1) A Deput…
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§2–104. (a) (1) In this section the following words have the meanings indicated. (2) “Applicant” mea…
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§2–104.1. (a) (1) In this section the following words have the meanings indicated. (2) “Servicing” m…
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§2–105. The Commissioner exercises the powers and performs the duties of the office subject to the a…
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§2–105.1. (a) (1) In this section the following words have the meanings indicated. (2) “Collection a…
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§2–106. The Commissioner shall adopt an official seal. A description and impression of the seal shal…
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§2–107. On or before December 31 of each year, the Commissioner shall submit to the Governor and, as…
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§2–108. (a) The Commissioner shall charge and collect, in advance, the following nonrefundable fees:…
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§2–109. Except as otherwise provided by law, the Commissioner shall pay all money collected by the C…
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§2–110. (a) The Commissioner and the Deputy Commissioners appointed under § 2–103 of this subtitle s…
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§2–111. (a) The Commissioner, employees of the Commissioner’s office, and other State employees acti…
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§2–112. (a) Except as provided in subsection (b) of this section, the Commissioner, employees of the…
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§2–113. (a) In this section, “affiliate” has the meaning stated in § 5–401(b) of this article. (b) E…
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§2–113.1. (a) A regulated person, as defined in § 2–117 of this subtitle, may not: (1) Issue an adve…
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§2–114. (a) The Commissioner may: (1) Make public or private investigations as the Commissioner cons…
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§2–115. (a) When the Commissioner determines that a person has engaged in an act or practice constit…
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§2–116. (a) When it appears to the Commissioner that a person is about to engage in an act or practi…
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§2–117. (a) In this section, “regulated person” means: (1) A person required to be licensed or regis…
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§2–117.1. (a) This section does not apply to information relating to publicly adjudicated disciplina…
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§2–118. (a) In this section, “Fund” means the Banking Institution and Credit Union Regulation Fund e…
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§2–118.1. (a) (1) In this section the following words have the meanings indicated. (2) “Fund” means …
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§2–119. For fiscal year 2009 and each fiscal year thereafter, the Governor shall include in the annu…
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§2–120. (a) (1) In this section the following words have the meanings indicated. (2) “Board” means t…
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§2–121. (a) Before using a trade name to engage in any activity requiring a license or registration …
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§2–122. (a) The Commissioner may examine a third–party service provider as to services and activitie…
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§2–401. Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the …
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§3–101. (a) In this title the following words have the meanings indicated. (b) “Capital stock” inclu…
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§3–102. Every trust company has the powers granted by, and is subject to, the provisions of this art…
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§3–103. (a) This section applies to a commercial bank that: (1) Is not in the business of accepting …
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§3–201. Three or more adult individuals, each of whom is a citizen of the United States, and at leas…
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§3–202. (a) The incorporators shall sign and acknowledge two copies of articles of incorporation. (b…
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§3–203. (a) The incorporators shall file with the Commissioner for examination the two copies of the…
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§3–203.1. (a) In this section, “executive officer” has the meaning stated in 12 C.F.R. § 215.2. (b) …
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§3–204. (a) If the Commissioner approves the articles of incorporation, the incorporators shall file…
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§3–205. (a) When articles of incorporation are filed for record in accordance with § 3-204 of this s…
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§3–206. (a) Except as otherwise provided in this article, a commercial bank has all of the general p…
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§3–207. In addition to the powers set forth elsewhere in this article, a trust company may: (1) Rece…
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§3–208. A commercial bank may not do business until it receives from the Commissioner a certificate …
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§3–209. (a) (1) Before the Commissioner issues a certificate to do business, the required capital st…
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§3–211. Except as otherwise provided by law, payment for capital stock and surplus shall be in money…
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§3–211.1. (a) In this section, “receivership” means a proceeding in which: (1) The Commissioner take…
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§3–212. (a) After its articles of incorporation are filed for record and its required capital stock …
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§3–213. (a) Any commercial bank may amend its charter, in any manner not inconsistent with law, as p…
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§3–301. (a) A subscription for the original capital stock of a commercial bank shall conform, to the…
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§3–302. (a) If the Commissioner approves, a commercial bank may issue preferred stock, in the amount…
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§3–303. A commercial bank may not make any loan the proceeds of which are to be used to pay for any …
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§3–304. (a) Except as necessary to prevent a loss on a loan previously made in good faith, a commerc…
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§3–305. (a) A reduction of the outstanding capital stock of a commercial bank: (1) Is not valid unle…
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§3–306. (a) If the surplus of a commercial bank at any time is less than 100 percent of its capital …
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§3–307. (a) The board of directors of a commercial bank may declare a cash dividend only from the fo…
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§3–308. (a) The board of directors of a commercial bank may not declare a stock dividend unless its …
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§3–309. (a) (1) Each commercial bank shall keep a stock ledger, which shall contain the name and add…
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§3–310. (a) The annual meeting of the stockholders of a commercial bank shall be held at the time an…
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§3–311. (a) On demand of a stockholder, a person may not vote any share of capital stock that, on th…
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§3–312. (a) If the Commissioner approves, a commercial bank may issue and sell debt instruments that…
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§3–314. (a) (1) In this section the following words have the meanings indicated. (2) “Bank holding c…
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§3–315. (a) Except as provided in subsection (b) of this section, the chief executive officer of a c…
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§3–316. (a) Unless the charter provides otherwise, a stockholder does not have any preemptive rights…
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§3–401. The business and affairs of a commercial bank shall be managed under the direction of a boar…
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§3–402. Each commercial bank shall have at least 5 and not more than 30 directors, as its charter or…
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§3–403. (a) (1) After the initial issuance of capital stock by a commercial bank, each of its direct…
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§3–404. Each director of a commercial bank shall take an oath: (1) To perform diligently and honestl…
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§3–405. (a) Until successors are elected and qualify, the board of directors of a commercial bank co…
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§3–406. (a) Each director of a commercial bank shall attend at least one half of the regularly sched…
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§3–407. The board of directors of a commercial bank may fill any vacancy on the board by electing an…
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§3–408. (a) A majority of the directors of a State bank then serving is a quorum. (b) The articles o…
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§3–409. (a) Within 15 days after the annual meeting of the stockholders and after the directors–elec…
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§3–501. (a) In this subtitle the following words have the meanings indicated. (b) “Common trust fund…
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§3–502. A trust company may establish and administer one or more common trust funds in accordance wi…
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§3–503. The fiduciary capacities of a trust company referred to in this subtitle include all of thos…
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§3–504. (a) A trust company shall establish and maintain a common trust fund only in accordance with…
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§3–505. Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund…
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§3–506. (a) A fund plan may provide for: (1) The amortization of premiums on bonds or other obligati…
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§3–507. Notwithstanding any other provision of this subtitle, a trust company may provide in a fund …
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§3–508. (a) A copy of the fund plan and any amendments to it shall be filed at the principal banking…
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§3–509. A fund plan may be amended only: (1) Prospectively; and (2) By written amendments that are a…
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§3–510. A trust company, acting in a fiduciary capacity, may invest money in one or more common trus…
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§3–511. (a) A trust company may invest in a common trust fund money from an account that it administ…
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§3–512. (a) Except as otherwise provided in this section, a trust company may not: (1) Invest its ow…
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§3–513. (a) Entry into and withdrawal from participation in a common trust fund may occur only on a …
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§3–514. (a) (1) A trust company that administers a common trust fund may issue a certificate of part…
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§3–515. (a) The trust company that establishes a common trust fund has exclusive management and cont…
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§3–516. (a) For each common trust fund that it administers, a trust company shall set valuation date…
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§3–517. (a) The ownership of and title to the individual assets in a common trust fund are solely in…
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§3–518. (a) A trust company may register in the name of a nominee any assets of a common trust fund …
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§3–519. A trust company may invest the assets of a common trust fund in any investment in which a fi…
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§3–520. (a) A transfer agent or a transferee of an asset held in the name of a trustee of a common t…
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§3–601. (a) This section does not apply to: (1) Any readily marketable bond or like obligation that …
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§3–604. (a) A commercial bank may accept for payment at a later date a draft issued in connection wi…
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§3–605. (a) This section does not apply to a leasehold interest in real property. (b) Subject to the…
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§3–606. (a) An officer, employee, or agent of a commercial bank may not certify any draft drawn on t…
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§3–607. (a) (1) In this section the following words have the meanings indicated. (2) “Demand deposit…
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§3–701. (a) In this subtitle the following words have the meanings indicated. (b) “Bank” means a com…
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§3–702. (a) Any bank may, as provided in this subtitle: (1) Consolidate with one or more other banks…
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§3–703. (a) An agreement of consolidation, merger, or transfer of assets shall be approved by the af…
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§3–704. (a) (1) Except as provided in subsection (b) of this section, the Commissioner shall publish…
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§3–705. Within 6 months after the papers specified in § 3–703(c) of this subtitle have been filed wi…
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§3–706. (a) The Commissioner shall approve the agreement if: (1) The successor meets the requirement…
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§3–707. If the Commissioner disapproves an agreement, the Commissioner shall give the constituent ba…
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§3–708. (a) The agreement shall be submitted to the stockholders of each constituent bank for approv…
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§3–709. (a) When the executed agreement and a copy of the resolution of the stockholders of each con…
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§3–710. (a) The successor shall act promptly to file and record the agreement in the same manner as …
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§3–711. The stockholders’ approval of a merger agreement constitutes the adoption of the charter and…
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§3–712. (a) Consummation of a consolidation or merger has the effects provided in this section. (b) …
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§3–713. Consummation of a transfer of assets has the effects provided in § 3-115 of the Corporations…
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§3–718. (a) The successor in a consolidation, merger, or transfer of assets may offer to pay in cash…
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§3–719. (a) The owner of shares of stock that were voted against a consolidation, merger, or transfe…
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§3–720. (a) The fair value of the shares of stock shall be determined as of the date of the stockhol…
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§3–721. Any amount due to an objecting stockholder under this Part II is a debt of the successor.
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§3–801. (a) (1) In this section the following words have the meanings indicated. (2) “Capital stock”…
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§3–802. (a) Any commercial bank may convert into a national banking association as provided by feder…
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§3–803. (a) A commercial bank may dissolve voluntarily, if the stockholders of the commercial bank a…
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§3–804. In the distribution of the general assets of a trust company that dissolves voluntarily, the…
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§4–101. (a) In this title the following words have the meanings indicated. (b) “Mutual holding compa…
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§4–201. Three or more adult individuals, each of whom is a citizen of the United States, and at leas…
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§4–202. (a) The incorporators shall sign and acknowledge two copies of articles of incorporation. (b…
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§4–203. (a) The incorporators shall: (1) File with the Commissioner for examination the two copies o…
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§4–204. (a) If the Commissioner approves the articles of incorporation, the incorporators shall file…
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§4–205. (a) When articles of incorporation are filed for record in accordance with § 4-204 of this s…
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§4–206. (a) Except as otherwise provided in this article, a savings bank has all of the general powe…
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§4–207. A savings bank may not do business until it receives from the Commissioner a certificate of …
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§4–208. (a) Before the Commissioner issues a certificate to do business, a savings bank shall have a…
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§4–209. (a) Payment to the initial guaranty fund shall be: (1) Made in money; and (2) Evidenced by t…
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§4–210. (a) Any savings bank may amend its charter in any manner not inconsistent with law, as provi…
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§4–301. (a) If a savings bank has a guaranty fund that is less than 5 percent of its total deposits,…
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§4–302. (a) Except as provided in this section, a savings bank may not reduce its guaranty fund. (b)…
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§4–303. (a) A savings bank may pay interest on its deposits only from its profits, after deducting e…
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§4–401. Unless organized as a subsidiary savings bank, as defined in this title, a savings bank is a…
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§4–402. (a) The bylaws of a savings bank shall provide for annual meetings of the members to: (1) El…
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§4–501. The business and affairs of a savings bank shall be managed under the direction of a board o…
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§4–502. Each savings bank shall have at least 5 and not more than 30 directors, as its charter or by…
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§4–503. Each director of a savings bank shall be a member of the savings bank.
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§4–504. Each director of a savings bank shall take an oath: (1) To perform diligently and honestly t…
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§4–505. (a) Until successors are elected and qualify, the board of directors of a savings bank consi…
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§4–507. (a) Each director of a savings bank shall attend at least one half of the regularly schedule…
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§4–508. The board of directors of a savings bank may fill any vacancy on the board by electing an in…
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§4–509. Unless the charter or bylaws of a savings bank provide for a greater number, a majority of t…
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§4–601. (a) A depositor of a savings bank may withdraw the deposit as the bylaws of the savings bank…
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§4–603. (a) (1) Unless a savings bank has the prior approval of the Commissioner, the total amount o…
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§4–604. (a) In this section, “federal act” means: (1) The federal Self-Employed Individuals Tax Reti…
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§4–701. (a) In this section, “transfer assets”, “transfer its assets”, or “transfer of assets” means…
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§4–701.1. (a) (1) In this section the following words have the meanings indicated. (2) “Converting i…
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§4–702. (a) A savings bank may dissolve voluntarily as provided in this section. (b) A proposed volu…
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§4–703. (a) A savings bank may convert to a capital stock commercial bank with the approval of its m…
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§4–801. In this subtitle, “savings and loan association” means a savings and loan association organi…
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§4–802. (a) (1) Notwithstanding any other provision of law, any savings bank may be reorganized in o…
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§4–803. (a) The savings bank shall: (1) File with the Commissioner for examination the application f…
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§4–804. (a) In connection with the reorganization of a savings bank into a mutual holding company pu…
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§4–805. A mutual holding company shall be subject to the provisions of the federal Bank Holding Comp…
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§4–805.1. A mutual holding company is a mutual association and may not have any capital stock.
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§4–806. The Commissioner may adopt regulations to carry out the provisions of this subtitle.
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§4–807. A mutual holding company shall be subject to the provisions of Subtitles 4, 5, and 7 of this…
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§4–901. Five or more adult individuals, each of whom is a resident of this State and a citizen of th…
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§4–902. (a) The incorporators of a subsidiary savings bank shall sign and acknowledge 2 copies of th…
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§4–903. (a) If the Commissioner approves the articles of incorporation of the subsidiary savings ban…
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§4–904. (a) When the articles of incorporation are filed for recording in accordance with § 4–903 of…
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§4–905. (a) Except as otherwise provided in this article, a subsidiary savings bank has all of the g…
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§4–906. A subsidiary savings bank may not do business until: (1) The subsidiary savings bank receive…
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§4–907. (a) After its articles of incorporation are filed for record and its required capital stock …
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§4–908. After providing for due or accrued expenses, losses, interest, and taxes, the board of direc…
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§4–909. The Commissioner may evaluate the assets of a subsidiary savings bank by a method that the F…
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§4–910. A subsidiary savings bank may dissolve in accordance with § 3-803 of this article and subjec…
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§5–101. (a) In this title the following words have the meanings indicated. (b) “CAMELS” means the co…
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§5–201. (a) An examiner shall visit each banking institution and examine its business: (1) At least …
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§5–202. (a) The Commissioner or deputy Commissioner may: (1) Summon any officer, manager, trustee, e…
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§5–203. (a) (1) In this section the following words have the meanings indicated. (2) “Branch” means …
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§5–204. Instead of making an examination under this subtitle, the Commissioner may accept a copy of …
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§5–205. The directors of a banking institution shall have a certified public accountant audit the in…
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§5–206. (a) At least twice a year, the Commissioner shall ask every banking institution to submit a …
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§5–206.1. (a) Within 30 days of receipt, a national banking association located in the State, a bank…
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§5–207. (a) At any time that the Commissioner considers necessary, the Commissioner may ask a bankin…
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§5–208. (a) If a banking institution or an other–state bank fails to make any report or submit proof…
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§5–210. An examiner shall have access to all the records of a subsidiary savings bank, its mutual ho…
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§5–301. Any banking institution may offer time account services to its customers.
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§5–302. (a) (1) As to the interest bearing account of each depositor in a banking institution, the b…
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§5–305. If a deposit in a banking institution is made by and in the name of a minor: (1) The institu…
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§5–306. (a) Except as provided in subsection (b) of this section, a banking institution is not requi…
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§5–307. A banking institution is liable to the depositor for the loss of any check that the institut…
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§5–308. A banking institution may not impose a service charge on any deposit if withdrawals are rest…
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§5–309. (a) In this section, “payor institution” means a bank, credit union, or savings and loan ass…
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§5–310. (a) Any checks provided directly or indirectly by a banking institution or trust company for…
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§5–401. (a) In this subtitle the following words have the meanings indicated. (b) “Affiliate” means …
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§5–402. This subtitle does not: (1) Affect any affiliate, if the affiliation existed on June 1, 1935…
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§5–403. (a) Subject to this section, a banking institution may have an affiliate that: (1) Provides …
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§5–404. The Commissioner has the same authority to examine the business of an affiliate that the Com…
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§5–405. (a) Except as provided in this section, or otherwise expressly provided by State law, a bank…
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§5–406. The Commissioner has the same authority to examine the business of a bank service corporatio…
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§5–407. A banking institution may not permit any bank services to be performed for it, whether by co…
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§5–503. (a) A banking institution may buy and hold real property only as provided in this section. (…
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§5–504. (a) Notwithstanding any other provision of the laws or regulations of this State and subject…
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§5–506. Before a banking institution makes an unsecured loan of $10,000 or more to any person, the b…
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§5–507. (a) If a banking institution rejects an application for a residential mortgage loan, the ban…
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§5–508. If a banking institution holds a first mortgage on residential property and a private mortga…
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§5–509. (a) Each banking institution shall be a member of the Federal Deposit Insurance Corporation …
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§5–511. (a) Banking institutions may not have common directors unless the Commissioner finds that a …
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§5–512. (a) (1) In this section the following words have the meanings indicated. (2) “Commercial loa…
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§5–513. (a) (1) In this section the following words have the meanings indicated. (2) “Check” means a…
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§5–514. (a) (1) In this section the following words have the meanings indicated. (2) “Conventional h…
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§5–601. (a) The board of directors of any banking institution may place the banking institution, inc…
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§5–602. (a) (1) If the Commissioner finds that the capital stock account of any commercial bank is i…
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§5–602.1. (a) In this section, “insolvent” means: (1) Incapable of meeting the demands of creditors;…
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§5–603. As long as the Commissioner has possession of a banking institution, the property, records, …
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§5–604. After the Commissioner takes possession of a banking institution, the Commissioner promptly …
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§5–604.1. (a) All necessary and reasonable expenses of the Commissioner that are court approved and …
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§5–605. (a) Within a reasonable time after the Commissioner takes possession of a banking institutio…
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§5–606. (a) (1) The receiver may appoint any clerks needed to carry out the receivership. (2) The sa…
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§5–607. (a) All money received by the receiver shall be deposited to the receiver’s credit in any ba…
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§5–608. If the court appoints an attorney to advise the receiver, the receiver shall set the attorne…
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§5–609. Within 6 months after taking possession of any banking institution, the Commissioner shall f…
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§5–610. As long as an examiner is in possession of any banking institution, the Commissioner may per…
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§5–611. (a) The board of directors or the depositors representing not less than 25 percent of the de…
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§5–612. (a) The plan of reorganization shall be filed with the Commissioner. (b) (1) The Commissione…
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§5–613. With the consent of the local governing body of any political subdivision that has money dep…
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§5–614. (a) If the Federal Deposit Insurance Corporation is receiver of a banking institution, the C…
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§5–615. In the distribution of the general assets of a trust company that is liquidated or reorganiz…
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§5–701. (a) In this subtitle the following words have the meanings indicated. (b) “Federal holiday” …
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§5–702. For the purposes of this subtitle, the operation of an automated teller machine or the condu…
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§5–703. (a) Except as provided in subsection (b) of this section, a banking institution shall be ope…
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§5–704. Each banking institution shall be closed on Sunday.
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§5–705. (a) (1) Subject to paragraph (2) of this subsection, each banking institution shall be close…
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§5–706. (a) Saturday is an optional bank holiday. (b) A banking institution that opens for business …
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§5–707. (a) In this section, “emergency” has the meaning stated in § 14-307 of the Public Safety Art…
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§5–708. A banking institution shall be open for business or shall be closed on optional bank holiday…
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§5–801. (a) If the Commissioner believes that a director or officer of a banking institution has eng…
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§5–802. (a) If the Commissioner believes that a banking institution or any of its directors, officer…
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§5–803. (a) An officer, director, or employee of a bank, trust company, or savings bank may not will…
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§5–804. (a) An officer or employee of a banking institution may not accept a deposit knowing that th…
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§5–805. (a) A person may not willfully make, circulate, or send to another any untrue statement that…
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§5–806. (a) Except for a bank, trust company, savings bank, or savings and loan association that is …
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§5–807. (a) A banking institution may not: (1) Issue an advertisement or make a representation that …
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§5–808. (a) The Commissioner may order any banking institution to cease and desist from: (1) An unsa…
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§5–808.1. (a) After notice and a hearing, the Commissioner may assess a civil penalty against a bank…
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§5–808.2. (a) In this section, “extraordinary circumstances” means a situation presenting specific c…
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§5–809. On application by the Commissioner, a court of competent jurisdiction may issue an injunctio…
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§5–901. (a) In this subtitle the following words have the meanings indicated. (b) “Acquire” means: (…
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§5–902. This subtitle sets forth the conditions under which a bank holding company may acquire a Mar…
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§5–903. (a) Except as otherwise expressly permitted by federal law, no bank holding company may acqu…
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§5–904. (a) A bank holding company that proposes to make an acquisition under this subtitle shall: (…
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§5–905. (a) In deciding whether to approve an application under § 5-904 of this subtitle, the Commis…
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§5–906. (a) The Commissioner shall decide whether to approve an application under § 5-904 of this su…
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§5–907. (a) To the extent specified by the Commissioner by regulation or written request, each bank …
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§5–908. The Commissioner may enforce the provisions of this subtitle by any appropriate action in th…
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§5–910. If any provision of this subtitle or the application thereof to any person or circumstance i…
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§5–1001. (a) In this subtitle the following words have the meanings indicated. (b) “Affiliate” means…
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§5–1002. This subtitle sets forth the conditions under which: (1) An out-of-state bank may establish…
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§5–1003. (a) A banking institution or an out–of–state bank may establish a branch in this State by: …
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§5–1004. A banking institution may establish a branch in another state by any means permitted by the…
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§5–1005. (a) Except as provided in subsection (b) of this section, a banking institution that propos…
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§5–1006. (a) Subject to subsection (b) of this section, in deciding whether to approve a branch of a…
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§5–1007. (a) The Commissioner shall decide whether to approve the establishment of a branch of a ban…
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§5–1008. (a) A banking institution that establishes a branch in another state may exercise at that b…
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§5–1009. (a) Subject to § 5-1012 of this subtitle, the Commissioner shall have the power to examine …
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§5–1010. (a) Subject to § 5-1012 of this subtitle, if the Commissioner finds that a branch of an oth…
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§5–1011. Subject to § 5-1012 of this subtitle, the Commissioner may require a bank that maintains a …
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§5–1012. With respect to the supervision, enforcement, and reporting requirements of §§ 5-1009, 5-10…
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§5–1013. (a) Except as provided in this section, the Commissioner may not approve a transaction resu…
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§5–1014. (a) An out-of-state bank that proposes to establish a branch in this State: (1) Shall quali…
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§5–1015. If any provision of this subtitle or the application thereof to any person or circumstance …
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§5–1101. (a) In this subtitle the following words have the meanings indicated. (b) “Acquire” means t…
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§5–1101.1. The provisions of this subtitle which authorize an out–of–state bank holding company to a…
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§5–1102. (a) This subtitle sets forth the conditions under which an out-of-state bank holding compan…
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§5–1103. (a) An out–of–state bank holding company may acquire one or more savings and loan associati…
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§5–1104. If the Commissioner deems it appropriate in order to consummate an acquisition under this s…
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§5–1105. (a) Except as provided in subsections (b), (c), (d), and (e) of this section, a commercial …
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§5–1106. (a) Notwithstanding any other provisions of law to the contrary, the Commissioner may: (1) …
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§5–1107. Upon and after the acquisition of each savings and loan association or commercial bank succ…
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§6–101. (a) In this title the following words have the meanings indicated. (b) “Board” means the boa…
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§6–201. Except as otherwise indicated in this title, Titles 3 through 5 of this article do not apply…
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§6–202. Credit unions are subject to the supervision of the Commissioner.
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§6–203. A credit union incorporated under the laws of this State, including its income, net worth, a…
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§6–204. A credit union may exercise all the rights, privileges, and incidental powers necessary or a…
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§6–205. This title shall be construed liberally to effectuate its purpose.
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§6–206. This title may be cited as the Maryland Credit Union Act.
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§6–301. (a) In this section, “organization” includes any trade, profession, club, union, religious c…
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§6–302. (a) In this section, “immediate family relative” means: (1) A spouse; (2) A child; (3) A sib…
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§6–303. (a) (1) Subject to the provisions of § 6-301(c) and (e) of this subtitle, a multiple common …
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§6–304. (a) A credit union may convert to another field of membership type, as described in § 6–301 …
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§6–305. (a) The incorporators shall sign and acknowledge three copies of articles of incorporation. …
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§6–306. (a) The incorporators shall adopt bylaws for the credit union and shall sign and acknowledge…
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§6–307. (a) The incorporators shall: (1) File with the Commissioner for examination three copies of …
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§6–308. (a) If the Commissioner approves the articles and bylaws, the incorporators shall file for r…
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§6–309. (a) When filing the articles of incorporation and bylaws with the Commissioner under § 6-307…
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§6–312. In addition to the powers set forth elsewhere in this title, a credit union may: (1) Receive…
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§6–313. (a) Notwithstanding any other provision of the laws or regulations of the State and subject …
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§6–314. (a) Without being required to take any action to perfect a lien, a credit union has a lien a…
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§6–317. (a) (1) The annual meeting of the members shall be held as provided by the bylaws and at the…
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§6–318. (a) The provisions of this section do not apply to: (1) An action authorized under § 6-329 o…
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§6–319. (a) Subject to the applicable provisions of the bylaws, the board may expel any member of th…
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§6–320. (a) (1) The board may amend the articles of incorporation only if the members approve the am…
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§6–321. (a) The board: (1) By resolution may authorize an amendment to the bylaws or articles of inc…
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§6–324. The board shall have the authority and responsibility for the business affairs, funds, and r…
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§6–325. (a) Each credit union shall have at least five directors. (b) Each director: (1) Shall be a …
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§6–326. (a) The office of a director becomes vacant if the director: (1) Dies; (2) Resigns; or (3) I…
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§6–327. (a) If the bylaws provide, a director emeritus may advise and consult with the board and aid…
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§6–328. (a) In addition to any power or duty provided for by law, the board shall: (1) Act on each a…
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§6–329. (a) Subject to the provisions of this section, the directors may be elected exclusively by m…
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§6–330. (a) Within 15 days after the annual meeting of the members and after the directors-elect hav…
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§6–331. (a) In this section, “compensation” means anything of value given to an official that is: (1…
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§6–332. (a) A board may call a special meeting of the members to act on a report or recommendation o…
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§6–333. (a) The board shall prepare a plan for educating each official as to the duties and responsi…
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§6–401. (a) Each credit union shall have a supervisory committee. (b) The board shall appoint the me…
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§6–402. (a) The supervisory committee is responsible for ensuring that the officials and officers: (…
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§6–403. (a) In this section, “examiner” means: (1) The Commissioner; and (2) An individual whom the …
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§6–404. (a) On or before March 31 of each year, each credit union shall report to the Commissioner o…
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§6–405. (a) If the Commissioner finds that the supervisory committee of a credit union is not perfor…
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§6–406. (a) The board may call a meeting of the members of the credit union to act on any practice o…
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§6–407. In order to carry out the purposes of this title, the Commissioner may enter into cooperativ…
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§6–501. As to each interest bearing or share account of each member or depositor in a credit union, …
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§6–502. (a) (1) Except as otherwise provided in this section, the board may declare and pay dividend…
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§6–503. (a) Any share drafts or checks provided directly or indirectly by a credit union for use in …
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§6–601. (a) Subject to the provisions of this subtitle, a credit union may make loans and extend lin…
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§6–602. (a) If the bylaws so provide, a credit union may have a credit committee. (b) The board shal…
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§6–603. (a) (1) Except as provided in subsection (b) of this section, and in § 6-328 (7) and (8) of …
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§6–604. The total of all loans made by a credit union directly or indirectly to any one member may n…
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§6–605. (a) A credit union may make a loan, including a business loan, to a member with or without s…
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§6–606. (a) Subject to § 6–606.1 of this subtitle, a credit union may make a loan to a member that i…
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§6–606.1. (a) (1) In this section the following words have the meanings indicated. (2) “Conventional…
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§6–607. (a) Subject to the provisions of subsection (b) of this section, a credit union may particip…
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§6–608. A credit union may make a loan that is insured or guaranteed by the federal government, a st…
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§6–609. (a) (1) In this section the following words have the meanings indicated. (2) “Eligible oblig…
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§6–610. (a) (1) A credit union may make a loan to an official of the credit union if the official ta…
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§6–611. A credit union may not make a loan to any person except: (1) A member of the credit union; (…
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§6–701. (a) Each credit union incorporated under the laws of this State shall: (1) Participate in an…
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§6–702. A credit union is subject to the provisions of 12 C.F.R., Part 702 (Prompt Corrective Action…
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§6–703. (a) In this section, “risk assets” means a credit union’s total loans outstanding to its mem…
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§6–704. (a) A credit union shall maintain an allowance for loan and lease loss account in accordance…
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§6–705. (a) The assets of a credit union that are not committed for loans may be invested in: (1) Ge…
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§6–706. (a) (1) With the prior approval of the Commissioner, as required under subsection (b) of thi…
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§6–707. (a) (1) In addition to any other investment authorized under this subtitle, a credit union m…
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§6–708. (a) (1) Subject to the provisions of paragraph (2) of this subsection, a credit union may bo…
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§6–709. A credit union may change its place of business on written notice to the Commissioner.
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§6–710. The fiscal year of each credit union ends at the close of business on December 31.
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§6–711. (a) A credit union shall post its hours of operation prominently in its office. (b) Each cre…
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§6–712. (a) (1) In this section the following words have the meanings indicated. (2) “De novo branch…
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§6–713. If a credit union files an application with the Maryland Insurance Commissioner to purchase …
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§6–714. (a) As approved by the Commissioner, a credit union may enter into marketing arrangements wi…
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§6–715. (a) A credit union shall keep the books and records that the Commissioner requires to determ…
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§6–801. (a) Any State credit union may convert into a federal credit union as provided by federal la…
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§6–802. (a) Any credit union organized under the laws of any other state or of the United States may…
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§6–803. (a) (1) In this section the following words have the meanings indicated. (2) “Merging credit…
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§6–804. (a) Any credit union may dissolve voluntarily, if the board, the members of the credit union…
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§6–805. (a) Any credit union voluntarily may place its business and assets in the hands of the Commi…
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§6–806. With the approval of the Commissioner, a credit union may purchase the assets or assume the …
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§6–807. (a) A credit union may establish a branch in the State in accordance with the provisions of …
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§6–808. (a) An out-of-state credit union shall provide the Commissioner, within 15 days of opening a…
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§6–809. (a) A credit union may require not more than 60 days’ notice of a member’s intention to with…
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§6–901. (a) (1) Except for a credit union authorized to do business in this State, a person may not:…
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§6–902. (a) A person may not willfully make, circulate, or send to another person any untrue stateme…
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§6–903. (a) An officer, official, or employee of a credit union may not willfully and knowingly make…
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§6–904. (a) An officer or official who in any way knowingly permits or participates in making a loan…
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§6–905. (a) The Commissioner may order a credit union, or enter into an agreement with a credit unio…
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§6–906. (a) The Commissioner shall order any credit union to cease and desist from: (1) An unsafe or…
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§6–906.1. (a) After notice and a hearing, the Commissioner may assess a civil penalty against a cred…
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§6–906.2. (a) In this section, “extraordinary circumstances” means a situation presenting specific c…
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§6–907. (a) (1) If the Commissioner believes that an officer or official has engaged in an unsafe or…
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§6–908. (a) If the Commissioner believes that any officer, official, agent, or employee of a credit …
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§7–101. (a) In this subtitle the following words have the meanings indicated. (b) “Corporation” mean…
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§7–102. (a) There is a Credit Union Insurance Corporation, established as a nonprofit, nonstock corp…
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§7–103. The purposes of the Corporation are to: (1) Insure and guarantee the share and deposit accou…
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§7–104. (a) The Corporation exercises its powers and performs its duties subject to the authority of…
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§7–105. (a) The Corporation shall insure and guarantee the share and deposit accounts of each member…
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§7–106. (a) (1) Subject to the provisions of Part III of this subtitle, any credit union may apply t…
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§7–107. (a) (1) A credit union becomes a member of the Corporation when: (i) The financial affairs, …
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§7–108. (a) In the election of directors and in voting on any other matter at a meeting of the membe…
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§7–109. (a) The powers of the Corporation shall be exercised by its Board of Directors. (b) The Boar…
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§7–110. (a) (1) The Board of Directors of the Corporation: (i) Shall elect one of its members as cha…
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§7–111. (a) The Board of Directors of the Corporation shall adopt bylaws for the Corporation and rul…
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§7–112. The Corporation may require independent audits and investigations of any member to determine…
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§7–113. (a) This section applies notwithstanding any other provisions of law. (b) (1) The Corporatio…
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§7–114. The net earnings of the Corporation shall be accumulated and may not be returned to its memb…
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§7–115. The Corporation, its members, and persons who have share and deposit accounts in credit unio…
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§7–116. The Corporation is exempt from all taxes imposed by this State or any of its political subdi…
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§7–117. This title does not, and the Corporation may not, pledge the faith or credit of this State.
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§7–118. (a) The Corporation may not accept an application from a credit union for new membership on …
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§7–119. (a) A credit union that is a member of the Corporation shall obtain primary share guaranty i…
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§7–120. (a) (1) In this section, “assets” means: (i) All net earnings of the Corporation accumulated…
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§7–121. The Commissioner may require the Corporation to provide any information that the Commissione…
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§7–201. (a) In this subtitle the following words have the meanings indicated. (b) Unless the context…
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§7–202. The provisions of this subtitle do not apply to the Credit Union Insurance Corporation estab…
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§7–203. (a) A person may not conduct business as a credit union share guaranty corporation unless th…
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§7–204. (a) A credit union share guaranty corporation shall insure and guarantee the share and depos…
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§7–205. (a) To qualify for a certificate of authority under this subtitle, an applicant shall satisf…
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§7–206. (a) (1) To apply for a certificate of authority, an applicant shall sign and submit to the C…
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§7–207. (a) When an applicant for a certificate of authority files the application and pays the appl…
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§7–208. (a) If an application for a certificate of authority is denied, the notification of the deni…
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§7–209. (a) The Commissioner may suspend or revoke the certificate of authority of a credit union sh…
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§7–210. (a) (1) The Commissioner: (i) Shall examine the business of each credit union share guaranty…
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§7–211. (a) A credit union share guaranty corporation shall pay all reasonable expenses for transpor…
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§7–212. (a) (1) On or before April 1 of each year, unless the Commissioner extends the time for good…
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§7–213. (a) This section applies notwithstanding any other provision of law. (b) A credit union shar…
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§7–214. (a) A credit union share guaranty corporation shall have a written contract with each partic…
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§7–215. A credit union share guaranty corporation shall provide written notice to the Commissioner o…
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§7–216. (a) (1) Except as provided in paragraph (2) of this subsection, a credit union share guarant…
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§7–217. (a) (1) A credit union share guaranty corporation shall establish reserves for guaranty loss…
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§7–218. (a) The Commissioner shall give prompt notice to the applicable credit union share guaranty …
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§7–219. (a) A credit union share guaranty corporation may terminate the participation of a participa…
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§7–220. A person who violates any provision of this subtitle is guilty of a misdemeanor and on convi…
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§7–221. Nothing in this subtitle creates any liability on the State for the payment of any funds to …
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§7–222. A credit union share guaranty corporation, its participating credit unions, and persons who …
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§7–223. A credit union share guaranty corporation that is a nonprofit corporation exempt from federa…
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§7–224. The Commissioner may adopt rules and regulations to carry out this subtitle.
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§8–101. (a) In this title and in Title 9, the following words have the meanings indicated. (b) “Affi…
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§8–102. (a) In Title 9 of this article and this title the policy of this State is to provide for: (1…
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§8–103. Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the …
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§8–301. There is a Division of Savings and Loan Associations in the Maryland Department of Labor.
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§8–302. (a) The Secretary of Labor shall appoint the Division Director with the approval of the Gove…
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§8–303. (a) The Division Director shall adopt regulations necessary to accomplish the policies set f…
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§8–305. (a) With the approval of the Secretary, the Division Director may appoint the staff provided…
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§8–306. Before taking office, the Division Director shall take the oath required by Article I, § 9 o…
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§8–307. (a) The Division Director shall devote full time to the duties of the office. (b) The Divisi…
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§8–308. After notifying the Secretary, the Division Director may: (1) Subpoena witnesses and adminis…
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§8–309. (a) (1) On June 30 of each year, or at the discretion of the Division Director or as circums…
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§8–310. Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the …
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§8–401. (a) The Division Director may issue orders: (1) To compel a savings and loan association or …
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§8–402. (a) Unless issued under § 8–401(e) of this subtitle, an order issued under this subtitle may…
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§8–403. (a) Any party aggrieved by a final order of the Division Director may appeal from the order …
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§8–404. Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the …
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§9–101. (a) In this title the following words have the meanings indicated. (b) “Capital stock” means…
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§9–102. (a) Only a corporation that complies with this title and § 1-201 of this article may conduct…
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§9–201. A savings and loan association shall be organized for the purpose of receiving funds and mak…
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§9–202. (a) Subject to the provisions of this subtitle, five or more adult individuals, each of whom…
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§9–203. The name of a savings and loan association: (1) Need not indicate that it is a corporation; …
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§9–204. (a) The articles of incorporation of a savings and loan association shall set forth: (1) The…
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§9–205. To organize as a savings and loan association, the incorporators shall submit to the Divisio…
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§9–206. (a) (1) On receipt of the items listed in § 9-205 of this subtitle, the Division Director sh…
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§9–207. The Division Director shall determine from the available information if: (1) The name of the…
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§9–208. (a) The Division Director may require any change in the proposed articles of incorporation o…
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§9–208.1. (a) Except as provided in subsection (b) of this section, the Division Director may not ap…
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§9–209. (a) On final approval of the articles of incorporation by the Division Director, the chairma…
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§9–210. (a) In this section, “business” means receiving funds or making loans. (b) A savings and loa…
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§9–211. (a) The charter of a savings and loan association may be amended as provided in Title 2, Sub…
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§9–212. (a) A savings and loan association that forfeits its charter may revive the charter in accor…
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§9–213. At the written request of the Division Director, a savings and loan association shall file a…
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§9–216. (a) (1) In this section the following words have the meanings indicated. (2) “Acquire” means…
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§9–216.1. (a) To organize as a savings and loan association, the chairman of the incorporators shall…
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§9–217. The chairman of the incorporators shall deliver to the Division Director a bond issued by a …
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§9–218. The incorporators of a savings and loan association shall deliver to their chairman, as savi…
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§9–220. (a) The incorporators of a savings and loan association shall deliver to the credit of the c…
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§9–221. The incorporators of a capital stock association shall have subscriptions for capital stock …
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§9–222. A capital stock association may use paid-in surplus if the expense fund is not sufficient to…
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§9–223. If the attempt to incorporate a savings and loan association is unsuccessful: (1) The chairm…
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§9–224. (a) Notwithstanding any other provision of any law or regulation or any provision of the cha…
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§9–301. (a) A member of a savings and loan association means a holder, as shown on the association’s…
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§9–302. (a) The business and affairs of a savings and loan association shall be managed under the di…
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§9–303. Except as otherwise provided by the charter or bylaws, each member of: (1) A mutual associat…
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§9–304. (a) A savings and loan association shall notify each member of the time and place of any mee…
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§9–305. At any meeting of the members of a savings and loan association: (1) Except as provided in t…
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§9–306. (a) A statement of the financial condition of a savings and loan association shall be: (1) P…
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§9–307. (a) Each director, officer, and controlling person of a savings and loan association shall: …
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§9–308. (a) A savings and loan association shall provide a fidelity bond, in the amount that the Div…
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§9–309. (a) A savings and loan association may not establish or relocate any branch office or reloca…
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§9–310. (a) (1) In this section, “electronic terminal” means an automated electronic information pro…
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§9–311. (a) (1) A savings and loan association shall have a president, a secretary, and a treasurer …
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§9–312. (a) (1) Except as otherwise provided in the bylaws, the board of directors of an association…
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§9–313. (a) If its charter or bylaws provide, a savings and loan association that is not a deposit a…
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§9–314. (a) Only a deposit association may issue savings deposit accounts. (b) A savings and loan as…
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§9–315. (a) The holder of a savings deposit account in a savings and loan association has the same c…
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§9–316. If a savings and loan association becomes a deposit association: (1) It may accept only savi…
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§9–319. If its charter provides, a savings and loan association may issue capital stock.
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§9–320. A capital stock association: (1) Shall obtain the prior written approval of the Division Dir…
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§9–321. (a) If the Division Director approves a plan of issuance under subsection (b) of this sectio…
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§9–322. Capital stock shall: (1) Have a par value of $1 a share, or any greater amount that the char…
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§9–323. (a) Every stock association shall at all times keep an up-to-date list of the names of all i…
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§9–324. (a) (1) For the purposes of this section, “net worth” includes: (i) Capital stock; (ii) Paid…
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§9–328. (a) Subject to regulation of the Division Director, the board of directors of each savings a…
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§9–329. (a) In any distribution of assets on liquidation of a savings and loan association, the prio…
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§9–401. A savings and loan association may classify its savings accounts according to the character,…
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§9–402. In accordance with rules and regulations of the Division Director, a savings and loan associ…
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§9–403. (a) (1) As to the interest bearing account of each depositor in a savings and loan associati…
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§9–404. (a) Subject to this title and its bylaws, a savings and loan association may: (1) Pay a divi…
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§9–405. (a) Dividends or interest on a savings certificate account or other type of fixed term accou…
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§9–406. (a) Except as required by subsection (b) of this section, a savings and loan association is …
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§9–407. (a) As to any savings account that has a withdrawal value of less than $25, a savings and lo…
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§9–408. (a) At any time, a holder of a savings account in a savings and loan association may request…
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§9–412.1. (a) Any checks or drafts provided directly or indirectly by a savings and loan association…
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§9–416. (a) Except as provided in subsection (b) of this section, a savings and loan association is …
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§9–419. (a) Subject to § 9-420 of this subtitle and the regulations of the Division Director, a savi…
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§9–420. (a) (1) An association may not, directly or indirectly, grant loans to any one individual or…
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§9–421. (a) In accordance with the regulations of the Division Director, a savings and loan associat…
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§9–422. A savings and loan association shall take title to all its investments in its own name, exce…
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§9–423. If a savings and loan association holds an investment that was permitted under this subtitle…
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§9–424. (a) A savings and loan association may require a borrower to pay all charges in connection w…
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§9–425. (a) A savings and loan association may: (1) Act as a depository of funds of: (i) The federal…
§
§9–426. If the Division Director approves its application, a savings and loan association may act as…
§
§9–428. With the written approval of the Division Director, a savings and loan association may opera…
§
§9–501. In this subtitle, “savings and loan association” includes a service company or related entit…
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§9–502. (a) (1) (i) At least once every year and at any other time that the Division Director consid…
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§9–503. The Division Director and any examiner from, or agent of, the Division of Savings and Loan A…
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§9–504. (a) Except as provided in this section, the Division Director and any authorized representat…
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§9–505. (a) Within 30 days of adoption, a federal association located in the State or a savings and …
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§9–601. A mutual association may convert to a capital stock association if: (1) Its members approve;…
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§9–602. To convert to a capital stock association, a mutual association shall deliver to the Divisio…
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§9–603. A proposed plan of conversion to a capital stock association shall provide: (1) That each sa…
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§9–604. The Division Director: (1) Shall review an application for conversion to a capital stock ass…
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§9–605. Within 60 days of the filing of an application, if the Division Director finds that the mutu…
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§9–606. (a) On receipt of the Division Director’s letter of preliminary approval, the board of direc…
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§9–607. A proposed plan of conversion to a capital stock association and proposed charter amendments…
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§9–608. (a) The board of directors of the converting association shall deliver to the Division Direc…
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§9–609. Any applicant aggrieved by the action or nonaction of the Division Director under § 9-605 or…
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§9–610. (a) After the final order of approval, the board of directors of the converting association …
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§9–611. (a) In this section, “savings and loan association” means a savings and loan association org…
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§9–612. (a) In this section, “savings and loan association” means a savings and loan association org…
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§9–613. A Maryland savings and loan association may convert to a federal association if: (1) It is e…
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§9–614. (a) If a savings and loan association wishes to convert to a federal association, the board …
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§9–615. A proposal to convert to a federal association requires approval by a majority vote of the t…
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§9–618. A federal association may convert to a Maryland savings and loan association if: (1) Its pri…
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§9–619. A proposal to convert to a Maryland savings and loan association requires approval by a majo…
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§9–620. To convert to a Maryland savings and loan association, the board of directors of a federal a…
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§9–621. (a) (1) When the Division Director receives the items listed in § 9-620 of this subtitle, th…
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§9–622. The Division Director shall approve an application if the Division Director finds: (1) The c…
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§9–623. (a) The Division Director may require any change in the proposed articles of incorporation o…
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§9–624. (a) On final order of approval of the articles of incorporation by the Division Director, th…
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§9–627. (a) A savings and loan association may consolidate with, merge with or into, or transfer its…
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§9–628. A savings and loan association may effect a statutory merger into any other savings and loan…
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§9–629. A savings and loan association may reorganize, partially liquidate, or dissolve if: (1) It c…
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§9–630. (a) To consolidate, merge, transfer assets, effect a statutory merger, reorganize, partially…
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§9–631. A capital stock savings and loan association may convert to a commercial bank if: (1) Its st…
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§9–632. To convert to a commercial bank, a capital stock savings and loan shall deliver to the Commi…
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§9–633. The Commissioner: (1) Shall review an application for conversion to a commercial bank; (2) S…
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§9–634. Within 60 days of the filing of an application, if the Commissioner finds that the stock ass…
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§9–635. (a) On receipt of the Commissioner’s letter of preliminary approval, the board of directors …
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§9–636. A proposed plan of conversion to a commercial bank and proposed charter amendments to confor…
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§9–637. (a) The board of directors of the converting association shall deliver to the Commissioner: …
§
§9–638. Any applicant aggrieved by the action or nonaction of the Commissioner under this subtitle m…
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§9–639. (a) After the final order of approval, the board of directors of the converting association …
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§9–640. (a) Except as provided in subsections (b), (c), and (d) of this section, a capital stock sav…
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§9–701. (a) With the prior written approval of the Secretary, the Division Director may institute pr…
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§9–702. (a) A conservator shall endeavor to correct the irregularities in the operation of a savings…
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§9–703. (a) (1) If a court appoints a conservator, each director, officer, and employee of a savings…
§
§9–704. (a) A savings and loan association shall pay the expenses of operation during its conservato…
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§9–708. (a) With the prior written approval of the Secretary, the Division Director may institute pr…
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§9–709. The Federal Savings and Loan Insurance Corporation or the State of Maryland Deposit Insuranc…
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§9–710. (a) (1) Notwithstanding any other provision of law and to the maximum extent permitted under…
§
§9–711. (a) The circuit court administering a conservatorship or receivership under this title has f…
§
§9–712. (a) In this section, savings and loan association includes its affiliates, subsidiaries, or …
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§9–801. In this subtitle, “foreign association” means any savings and loan association other than: (…
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§9–802. (a) Except as provided under subsection (b) of this section, a foreign association or a savi…
§
§9–803. (a) Subject to § 9-309 of this title and the approval of the Division Director, a foreign as…
§
§9–804. (a) For the purposes of this article and the Corporations and Associations Article, in addit…
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§9–805. Except for a foreign association incorporated under the laws of the United States, the Divis…
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§9–901. A savings and loan association shall become and participate as a member in and have its savi…
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§9–902. If a savings and loan association rejects an application for a residential mortgage, the ass…
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§9–903. If a savings and loan association holds a first mortgage on residential property, and the mo…
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§9–904. The sale of savings accounts of any savings and loan association in this State is exempt fro…
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§9–905. (a) The Division Director shall regulate promotional activities by savings and loan associat…
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§9–906. An association or related entity may not require as a condition of making a loan that the bo…
§
§9–908. Subject to the evaluation and reestablishment provisions of the Program Evaluation Act, the …
§
§9–909. (a) In this section, “payor institution” means a bank, credit union, or savings and loan ass…
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§9–911. (a) Except with the written consent of the Division Director, a person who has been convicte…
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§9–912. (a) (1) Any director, officer, controlling person, or employee of a savings and loan associa…
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§9–913. (a) Except as otherwise provided in this section and in this title, any violation of any pro…
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§9–914. (a) A controlling person, officer, or director may not withdraw funds or cause his funds or …
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§9–915. (a) In any appeal of an order of the Division Director under this title or Title 8 of this a…
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§9–916. Notwithstanding any provision of law, a savings and loan association, holding company, or su…
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§9–917. In the interpretation and construction of this title and Title 8 of this article: (1) A refe…
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§9–918. On June 1, 1992 any savings and loan association that is chartered under the provisions of t…
§
§9–1001. (a) In this subtitle the following words have the meanings indicated. (b) “Acquire” means: …
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§9–1002. (a) This subtitle sets forth the conditions under which an out-of-state association or out-…
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§9–1003. (a) (1) An out-of-state savings and loan holding company not having a Maryland association …
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§9–1004. (a) (1) An out-of-state association that has not acquired a Maryland association or an inte…
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§9–1005. (a) Except as expressly permitted by federal law or Title 5, Subtitle 11 of this article, a…
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§9–1006. (a) An interstate association or an out–of–state savings and loan holding company that cont…
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§9–1007. (a) The Division Director may enter into cooperative agreements with any other savings and …
§
§9–1008. (a) It is the purpose of this subtitle to permit orderly development of savings and loan as…
§
§9–1009. (a) An out-of-state association’s status as an out-of-state association shall not be affect…
§
§9–1101. In this subtitle, “mutual association” means an association that: (1) Is a corporation char…
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§9–1102. A mutual association may convert to a credit union if: (1) Its members approve; and (2) App…
§
§9–1103. (a) If a mutual association wishes to convert to a credit union, the board of directors of …
§
§9–1104. A proposed plan of conversion to a credit union shall be approved by a majority vote of the…
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§9–1105. (a) To convert to a credit union, the mutual association shall deliver to the Commissioner:…
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§9–1106. (a) In reviewing an application for conversion, the Commissioner shall determine: (1) Wheth…
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§9–1107. (a) On approval of the application for conversion, the applicant shall file an endorsed cop…
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§9–1108. (a) The Commissioner may require any changes to the application or exhibits that the Depart…
§
§9–1109. In addition to membership authorized in § 6-302 of this article, a credit union resulting f…
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§10–101. (a) In this title the following words have the meanings indicated. (b) “Association” means …
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§10–102. There is a State of Maryland Deposit Insurance Fund Corporation in the Maryland Department …
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§10–103. (a) The Fund Director is appointed by the Governor. (b) The Fund Director serves at the ple…
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§10–103.1. (a) The function of the Board is advisory. (b) The Board shall give the Fund Director sou…
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§10–104. (a) The Fund Director may employ a staff in accordance with the State budget. The Fund Dire…
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§10–105. The Fund Director exercises powers and performs duties subject to the authority of the Secr…
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§10–106. The Fund Director shall adopt an official seal. A description and impression of the seal sh…
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§10–107. The Fund Director shall devote full time to the duties of the Fund.
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§10–108. (a) The Fund Director may not: (1) Be an officer or director of any State or federal saving…
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§10–109. (a) Except as provided in subsection (b) of this section, the Fund Director and employees o…
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§10–110. (a) (1) (i) The money of the State of Maryland Deposit Insurance Fund Corporation shall be …
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§10–110.1. (a) Upon final liquidation of a member association, the Fund Director shall: (1) Subject …
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§10–110.2. (a) Any moneys advanced by the State to the Fund from general or special funds or from th…
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§10–111. (a) (1) Any association or the incorporators of a proposed association may apply to the Fun…
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§10–112. (a) An association becomes a member when its application is approved by the Fund Director. …
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§10–113. (a) The Fund Director shall adopt rules and regulations to carry out the provisions of this…
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§10–114. Section 9-504 of this article does not prevent the Division Director and the Fund Director …
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§10–115. The Fund is not subject to the Insurance Article.
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§10–116. It is the policy of this State that funds will be appropriated to the Fund to the extent ne…
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§10–117. (a) A major association is not eligible for new or continued membership in the Fund on or a…
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§10–118. (a) (1) An association that is not a major association and had total assets of at least $15…
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§10–119. (a) Any person who knowingly submits false information to the Fund is guilty of a misdemean…
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§10–120. (a) In addition to any other remedies available at law or equity, the Fund is vested with a…
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§10–121. The Fund shall have the immunity from liability described under § 5-520 of the Courts and J…
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§11–101. (a) (1) In this section the following words have the meanings indicated. (2) “Examination” …
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§11–102. (a) In this section, “installment loan” has the meaning stated in § 11–301 of this title. (…
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§11–201. (a) In this subtitle the following words have the meanings indicated. (b) (1) “Control pers…
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§11–202. (a) The Maryland Consumer Loan Law does not change any powers conferred by law on any perso…
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§11–203. The Commissioner may adopt rules and regulations to carry out the provisions of this subtit…
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§11–203.1. (a) Unless a person is licensed by the Commissioner, the person may not: (1) Make a loan;…
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§11–203.2. (a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 5 of the …
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§11–203.3. (a) All revenue received for the licensing and assessment of persons under this subtitle …
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§11–204. (a) A person may not: (1) Receive any application for a loan or allow any note or contract …
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§11–205. To qualify for a license, an applicant shall satisfy the Commissioner that: (1) The applica…
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§11–206. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
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§11–207. (a) When an applicant for a license files the application and bond and pays the fees requir…
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§11–208. (a) Information in NMLS associated with a license approved by the Commissioner under this s…
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§11–209. (a) An initial license term shall: (1) Begin on the date the license is issued; and (2) Exp…
§
§11–209.1. (a) A licensee may surrender a license through NMLS in accordance with the process that t…
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§11–210. (a) A license is not transferable. (b) (1) Each licensee shall conspicuously post, in 48 po…
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§11–211. (a) A licensee may not add, delete, or modify a location required to be listed in NMLS unde…
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§11–213. Each licensee shall keep: (1) The books and records that the Commissioner considers necessa…
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§11–214. (a) To discover any violations of the Maryland Consumer Loan Law, the Commissioner, at any …
§
§11–215. (a) Subject to the hearing provisions of § 11-217 of this subtitle, the Commissioner may or…
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§11–216. (a) Subject to the hearing provisions of § 11-217 of this subtitle, the Commissioner may su…
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§11–217. (a) Before the Commissioner takes any action under § 11-215 or § 11-216(a) of this subtitle…
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§11–218. (a) Any applicant for a license or any licensee who is aggrieved by a decision of the Commi…
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§11–219. (a) A licensee may not sell a loan account to any person who is not licensed under this sub…
§
§11–220. The Commissioner shall report to the appropriate State’s Attorney any alleged criminal viol…
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§11–221. This subtitle shall be interpreted and construed to effectuate its general remedial purpose…
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§11–222. Any person who violates any provision of § 11–203.1(a) of this subtitle is guilty of a misd…
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§11–223. (a) This subtitle may be cited as the Maryland Consumer Loan Law – Licensing Provisions. (b…
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§11–301. (a) In this subtitle the following words have the meanings indicated. (b) “Installment loan…
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§11–302. (a) This subtitle does not apply to any loan or extension of credit: (1) Between relatives;…
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§11–303. Unless the person is licensed by the Commissioner, a person may not: (1) Engage in the busi…
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§11–304. A license under this subtitle shall be applied for and issued in accordance with, and is su…
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§11–305. Any person who violates any provision of this subtitle is guilty of a misdemeanor and on co…
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§11–401. (a) In this subtitle the following words have the meanings indicated. (b) “Agreement” means…
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§11–402. The licensing provisions of this subtitle do not apply to any banking institution, national…
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§11–402.1. (a) All revenue received for the licensing and assessment of persons under this subtitle …
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§11–403. (a) Except as otherwise provided in this subtitle, a person may not engage in business as a…
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§11–404. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
§
§11–405. The Commissioner may deny an application if the applicant or any current owner, director, o…
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§11–406. (a) In addition to the investigation fee required by § 11–404 of this subtitle, if an appli…
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§11–407. (a) When an applicant for a license files the application and pays the fees required by § 1…
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§11–408. (a) Information in NMLS associated with a license approved by the Commissioner under this s…
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§11–409. (a) An initial license term shall: (1) Begin on the date the license is issued; and (2) Exp…
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§11–410. (a) A license is not transferable. (b) (1) Each licensee shall conspicuously post, in 48 po…
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§11–411. (a) A licensee may not add, delete, or modify a location required to be listed in NMLS unde…
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§11–412. (a) A licensee may surrender the license through NMLS in accordance with the process that t…
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§11–412.1. (a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 4 of the …
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§11–413. (a) The Commissioner may not examine or audit any licensee or other person except as expres…
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§11–414. Subject to the hearing provisions of § 11–415 of this subtitle, the Commissioner may suspen…
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§11–415. (a) Before the Commissioner takes any action under § 11-414 of this subtitle, the Commissio…
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§11–416. (a) Any person aggrieved by a decision of the Commissioner to deny an application for a lic…
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§11–417. (a) The surrender, suspension, or revocation of a license does not impair or affect any obl…
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§11–418. A person may not knowingly: (1) Make an incorrect statement of material fact in any applica…
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§11–419. Any person who violates or participates in the violation of any provision of this subtitle …
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§11–501. (a) In this subtitle the following words have the meanings indicated. (b) “Borrower” means …
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§11–502. (a) In this section, “affiliate” means any company that controls, is controlled by, or is u…
§
§11–503. The Commissioner may adopt rules and regulations to carry out the provisions of this subtit…
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§11–503.1. (a) The Commissioner shall set by regulation the fees provided for in this subtitle. (b) …
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§11–503.2. (a) All revenue received for the licensing and assessment of persons under this subtitle …
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§11–504. A person may not act as a mortgage lender unless the person is: (1) A licensee; or (2) A pe…
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§11–505. (a) A license issued under this subtitle authorizes the licensee to act as a mortgage lende…
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§11–506. (a) To qualify for a license, an applicant shall satisfy the Commissioner that the applican…
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§11–506.1. (a) This section does not apply to any corporation the securities of which are exempt fro…
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§11–507. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
§
§11–508. (a) With the application for a license, an applicant shall file a surety bond with the Comm…
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§11–508.1. (a) An applicant for a new license or for the renewal of a license shall satisfy the Comm…
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§11–509. (a) When an applicant for a license files the application and bond and pays the fees requir…
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§11–510. (a) If an applicant does not meet the requirements of this subtitle, the Commissioner shall…
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§11–511. (a) Subject to any regulations the Commissioner adopts in connection with the transition to…
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§11–511.1. (a) By July 1, 2000, the Commissioner shall adopt regulations that set continuing educati…
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§11–512. (a) A licensee may not add, delete, or modify a location required to be listed in NMLS unde…
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§11–512.1. (a) Each licensee shall conspicuously post, in 48 point or larger type, at each licensed …
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§11–513. (a) Each licensee shall keep and make available to the Commissioner at the licensee’s licen…
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§11–513.1. (a) A licensee shall submit to NMLS a call report once each quarter on the date, in the f…
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§11–514. (a) A licensee may surrender a license through NMLS in accordance with the process that the…
§
§11–515. (a) (1) The Commissioner shall examine the business of each licensee: (i) In accordance wit…
§
§11–516. (a) If the Commissioner finds that the conduct of any other business conceals a violation o…
§
§11–517. (a) Subject to the hearing provisions of § 11-518 of this subtitle, the Commissioner may su…
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§11–518. (a) Before the Commissioner takes any action under § 11-516 or § 11-517 of this subtitle, t…
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§11–519. The Commissioner may reinstate a suspended license or issue a new license to a person whose…
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§11–520. A mortgage lender may not do business under any trade name that misrepresents or tends to m…
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§11–521. (a) A mortgage lender shall require a borrower to provide the mortgage lender with independ…
§
§11–522. (a) (1) This subsection applies only to a conventional home mortgage loan that is not alrea…
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§11–523. (a) Any person who willfully violates any provision of this subtitle or any rule or regulat…
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§11–524. This subtitle may be cited as the Maryland Mortgage Lender Law.
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§11–601. (a) In this subtitle the following words have the meanings indicated. (b) “Borrower” has th…
§
§11–602. (a) (1) The licensing provisions of this subtitle do not apply to independent contractors. …
§
§11–603. (a) A license issued under this subtitle authorizes the licensee to act as a mortgage loan …
§
§11–603.1. (a) In this section, “affiliated insurance producer–mortgage loan originator” means an in…
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§11–604. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
§
§11–605. (a) The Commissioner may not issue a mortgage loan originator license unless the Commission…
§
§11–606. (a) To qualify for an initial license, an applicant shall complete at least 20 hours of pre…
§
§11–606.1. (a) To qualify for an initial license, an applicant shall pass a qualified written test d…
§
§11–607. (a) When an applicant for a license files the application and pays the fees required by § 1…
§
§11–608. (a) If the Commissioner denies an application, the Commissioner: (1) Within 10 days, shall …
§
§11–609. (a) Subject to any regulations the Commissioner adopts in connection with the transition to…
§
§11–611. For fiscal year 2006 and each fiscal year thereafter, the Governor shall include in the ann…
§
§11–612. (a) Before applying for renewal of a license, a licensee shall complete at least 8 hours of…
§
§11–612.1. (a) The Commissioner shall set by regulation the fees provided for in this subtitle. (b) …
§
§11–612.2. (a) (1) In this section the following words have the meanings indicated. (2) “Active serv…
§
§11–613. (a) (1) Any person aggrieved by the conduct of a licensee under this subtitle in connection…
§
§11–614. (a) If the Commissioner finds that the conduct of any other business conceals a violation o…
§
§11–615. (a) Subject to the hearing provisions of § 11–616 of this subtitle, and except as provided …
§
§11–616. (a) Before the Commissioner takes any action under § 11-614 or § 11-615 of this subtitle, t…
§
§11–617. Any person who willfully violates the provisions of this subtitle is guilty of a felony and…
§
§11–618. The employment of a mortgage loan originator licensed under this subtitle by a mortgage len…
§
§11–619. (a) Each mortgage loan originator shall be covered by a surety bond in accordance with this…
§
§11–620. (a) (1) Except as otherwise provided in 12 U.S.C. § 5111, the requirements under any federa…
§
§11–621. Nonfederally insured credit unions that employ mortgage loan originators shall register the…
§
§11–622. (a) Notwithstanding Title 4, Subtitles 1 through 5 of the General Provisions Article, and s…
§
§11–623. The unique identifier of a mortgage loan originator shall be clearly displayed as required …
§
§11–624. (a) A person subject to this subtitle may not, in connection with a mortgage loan or loan a…
§
§12–101. (a) In this subtitle the following words have the meanings indicated. (b) (1) “Control pers…
§
§12–102. (a) This subtitle does not apply to check cashing services: (1) In which a customer present…
§
§12–103. (a) This subtitle does not apply to: (1) Any bank, trust company, savings bank, savings and…
§
§12–104. The Commissioner may adopt regulations to carry out the provisions of this subtitle.
§
§12–104.1. (a) All revenue received for the licensing and assessment of persons under this subtitle …
§
§12–105. (a) Except as provided in § 12–102(a) or § 12–105.1 of this subtitle, a person may not prov…
§
§12–105.1. (a) A person may provide check cashing services without obtaining a license under this su…
§
§12–106. To qualify for a license, an applicant shall satisfy the Commissioner that: (1) The applica…
§
§12–107. (a) In connection with an initial application for a license under this subtitle, and at any…
§
§12–107.1. (a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 5 of the …
§
§12–108. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
§
§12–109. (a) When an applicant for a license files the application and pays the fees required by § 1…
§
§12–110. (a) Information in NMLS associated with a license approved by the Commissioner under this s…
§
§12–110.1. (a) A licensee may surrender a license through NMLS in accordance with the process that t…
§
§12–111. (a) An initial license term shall: (1) Begin on the date the license is issued; and (2) Exp…
§
§12–112. (a) A license is not transferable. (b) (1) Each licensee shall conspicuously post, in 48 po…
§
§12–113. (a) A licensee may not add, delete, or modify a location required to be listed in NMLS unde…
§
§12–114. (a) A licensee shall keep the books and records that the Commissioner requires to determine…
§
§12–115. (a) At any time and as often as the Commissioner considers appropriate, the Commissioner ma…
§
§12–116. Before a licensee deposits a payment instrument in or presents a payment instrument to a fi…
§
§12–117. A licensee shall comply with all federal and State laws concerning money laundering.
§
§12–118. A licensee shall conspicuously post, in 48 point or larger type, at each licensed location …
§
§12–119. (a) A licensee shall pay a customer, in United States currency, the face amount of the paym…
§
§12–120. (a) Except as provided in § 15-802(b) of the Commercial Law Article and subsection (b) of t…
§
§12–121. Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may order …
§
§12–122. (a) Subject to the hearing provisions of § 12–123 of this subtitle, the Commissioner may su…
§
§12–123. (a) Before the Commissioner takes any action under § 12–121, § 12–122, or § 12–126 of this …
§
§12–124. The Commissioner shall report to the appropriate State’s Attorney or the Attorney General a…
§
§12–125. A person who knowingly violates this subtitle is guilty of a misdemeanor and on conviction …
§
§12–126. (a) The Commissioner may impose a civil penalty against a person who violates this subtitle…
§
§12–127. (a) A person who is injured by a violation of this subtitle may file an action to recover d…
§
§12–201. (a) In this subtitle the following words have the meanings indicated. (b) “Affiliated corpo…
§
§12–207. (a) Except as provided in subsection (b) of this section, a foreign banking corporation may…
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§12–208. (a) To apply for a permit for an office, a foreign banking corporation shall submit to the …
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§12–209. On application for a permit, the Commissioner shall issue the permit, if the Commissioner d…
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§12–210. (a) A permit expires on the third anniversary of its effective date, unless the permit is r…
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§12–211. The Commissioner shall set the application and renewal fees in amounts that reasonably rela…
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§12–401. (a) In this subtitle the following words have the meanings indicated. (b) (1) “Accelerated …
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§12–402. (a) The provisions of this subtitle do not apply to: (1) Any banking institution; (2) Any o…
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§12–403. To carry out the provisions of this subtitle, the Commissioner may: (1) Adopt rules and reg…
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§12–404. (a) All revenue received for the licensing and assessment of money transmitters under this …
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§12–405. (a) A person may not engage in the business of money transmission if that person, or the pe…
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§12–406. (a) To qualify for a license, an applicant shall satisfy the Commissioner that the applican…
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§12–407. (a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the C…
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§12–408. (a) This section does not apply to any corporation the securities of which are exempt from …
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§12–408.1. (a) (1) The requirements under any federal law and Title 4, Subtitles 1 through 5 of the …
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§12–409. (a) After the filing of a complete application, the Commissioner shall investigate the fina…
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§12–410. (a) Information in NMLS associated with a license approved by the Commissioner under this s…
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§12–411. (a) Subject to any regulations the Commissioner adopts in connection with the transition to…
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§12–412. (a) (1) In this section the following words have the meanings indicated. (2) “Average daily…
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§12–413. (a) (1) Each authorized delegate that a licensee appoints under a license is the designated…
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§12–413.1. (a) (1) In this section the following words have the meanings indicated. (2) “Agent” incl…
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§12–414. (a) An authorized delegate may not make any fraudulent or false statement or misrepresentat…
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§12–415. (a) (1) A licensee may not add, delete, or modify a location required to be listed in NMLS …
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§12–416. (a) A licensee shall submit to NMLS a call report once each quarter on the date, in the for…
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§12–417. A licensee shall comply with all federal and State laws and regulations concerning the busi…
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§12–418. (a) (1) Subject to paragraph (2) of this subsection, a licensee shall have at all times per…
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§12–419. (a) The original buyer of a payment instrument may request a duplicate of the instrument if…
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§12–420. Except as permitted by § 17-308.1 of the Commercial Law Article, a licensee or its authoriz…
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§12–421. If the Commissioner finds that the books, records, and accounting procedures of a licensee …
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§12–422. (a) (1) A licensee may surrender a license through NMLS in accordance with the process that…
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§12–423. (a) To discover any violations of this subtitle or to obtain any information required by th…
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§12–424. (a) The Commissioner may conduct an examination of a licensee or an authorized delegate wit…
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§12–425. (a) Each licensee shall make and preserve the following books, accounts, and records for a …
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§12–426. (a) Subject to the hearing provisions of § 12-428 of this subtitle, the Commissioner may su…
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§12–427. A money transmitter is subject to the enforcement provisions of §§ 2–114 through 2–116 of t…
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§12–428. (a) Before the Commissioner denies an application for a license under § 12-409 of this subt…
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§12–429. The State’s Attorney for the county in which the violation occurs or the Attorney General m…
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§12–430. Any person who knowingly and willfully violates any provision of this subtitle is guilty of…
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§12–430.1. (a) (1) Notwithstanding Title 4, Subtitles 1 through 5 of the General Provisions Article,…
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§12–431. This subtitle may be cited as the Maryland Money Transmission Act.
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§12–601. (a) In this subtitle the following words have the meanings indicated. (b) “Safe-deposit box…
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§12–602. (a) In this section, “fiduciary” includes the fiduciary’s successor. (b) Except as provided…
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§12–603. If the lessee of a safe-deposit box dies and, before a personal representative for the less…
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§12–604. (a) In a contract governing the use of a safe-deposit box by a customer, the safe-deposit c…
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§12–701. (a) A financial institution may apply to the Commissioner to be supervised and examined by …
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§12–702. To qualify for supervision and examination, the applicant shall satisfy the Commissioner th…
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§12–703. (a) (1) To apply for supervision and examination under this subtitle, an applicant shall si…
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§12–704. Any financial institution supervised and examined under this subtitle shall be subject to t…
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§12–705. (a) If the Commissioner believes that a financial institution supervised and examined under…
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§12–706. (a) If the Commissioner takes any action under § 12-705(b) of this subtitle, the Commission…
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§12–707. Any person who is aggrieved by any decision or finding of the Commissioner under this subti…
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§12–708. (a) The Commissioner, not more often than once per year, may impose annual assessments on e…
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§12–709. The Commissioner may adopt regulations to carry out the provisions of this subtitle.
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§12–801. It is the purpose of this subtitle to require certain reports and records of transactions i…
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§12–802. (a) In this subtitle the following words have the meanings indicated. (b) “Currency” means …
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§12–803. (a) A financial institution shall keep a record of currency transactions in excess of $10,0…
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§12–804. (a) The Department of Public Safety and Correctional Services and the Office of the Attorne…
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§12–805. (a) The Secretary may assess a civil penalty against any financial institution and any offi…
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§12–806. If the information required by § 12-803(a) of this subtitle has been available to the Depar…
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§12–901. (a) In this subtitle the following words have the meanings indicated. (b) “Annual gross rev…
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§12–902. This subtitle does not apply to: (1) The following persons when engaged in the regular cour…
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§12–904. With the license application, the applicant shall pay to the Commissioner: (1) A nonrefunda…
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§12–905. (a) All revenue received for the licensing and assessment of persons under this subtitle an…
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§12–906. (a) Whether or not the person maintains an office in this State, a person may not provide d…
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§12–907. (a) To qualify for a license, an applicant shall satisfy the Commissioner that: (1) The app…
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§12–908. (a) To apply for a license, an applicant shall: (1) Complete, sign, and submit to the Commi…
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§12–909. (a) In connection with an initial application, a renewal application, and at any other time…
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§12–910. (a) After an applicant for a license files a complete application, files a surety bond, and…
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§12–911. (a) Information in NMLS associated with a license approved by the Commissioner under this s…
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§12–912. (a) An initial license term shall: (1) Begin on the date the license is issued; and (2) Exp…
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§12–913. (a) (1) A licensee may surrender a license through NMLS in accordance with the process that…
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§12–914. (a) With the application for a new license, an applicant shall file a surety bond with the …
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§12–915. (a) (1) Except for a change of a licensed location made in compliance with subsection (d) o…
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§12–916. (a) (1) A licensee may not perform debt management services for a consumer unless: (i) 1. T…
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§12–917. (a) Within 2 business days after receipt, a licensee shall deposit, in a trust account esta…
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§12–918. (a) With respect to the provision of debt management services, a licensee may not impose an…
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§12–919. (a) A licensee shall provide to each consumer with whom the licensee has a debt management …
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§12–920. (a) A licensee may not: (1) Purchase any debt or obligation of a consumer; (2) Lend money o…
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§12–921. (a) (1) On or before April 30 of each year, a licensee shall report to the Commissioner on …
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§12–922. (a) To enable the Commissioner to determine compliance with this subtitle, a licensee shall…
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§12–923. (a) To discover any violations of this subtitle or to obtain any information required by th…
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§12–924. (a) The Commissioner may conduct an examination of a licensee with or without prior notice.…
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§12–925. A licensee shall include in any advertisement the licensee’s unique identifier.
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§12–926. (a) Except as provided in subsection (c) of this section, and subject to the hearing provis…
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§12–927. (a) Before the Commissioner denies an application for a license under § 12-910 of this subt…
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§12–928. (a) (1) The Commissioner may enforce the provisions of this subtitle and regulations adopte…
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§12–929. A person who knowingly and willfully violates any provision of this subtitle is guilty of a…
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§12–930. In addition to any other remedies provided in this subtitle, a consumer may bring a civil a…
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§12–931. This subtitle may be cited as the Maryland Debt Management Services Act.
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§12–1001. (a) In this subtitle the following words have the meanings indicated. (b) “Consumer” means…
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§12–1002. (a) Subject to subsection (b) of this section, the provisions of this subtitle are in addi…
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§12–1003. This subtitle does not apply to: (1) The following persons when engaged in the regular cou…
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§12–1004. (a) A person may not offer, provide, or attempt to provide debt settlement services unless…
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§12–1005. To carry out the provisions of this subtitle, the Commissioner may: (1) Adopt regulations;…
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§12–1006. (a) A person registering as a debt settlement services provider with the Commissioner unde…
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§12–1007. (a) All revenue received for the registration of persons under this subtitle and, except a…
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§12–1008. (a) To apply for a registration, an applicant shall submit to the Commissioner an applicat…
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§12–1009. (a) A registration issued under this subtitle expires on December 31 of each year. (b) On …
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§12–1010. (a) Except as allowed under this subtitle, a registrant may not offer, provide, or attempt…
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§12–1011. A registrant may not misrepresent any material aspect of any debt settlement service.
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§12–1012. (a) A debt settlement services agreement shall: (1) Be signed and dated by the registrant …
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§12–1012.1. A debt settlement services provider engaged in student education loan debt relief may no…
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§12–1013. (a) An advertisement for debt settlement services shall include clearly and conspicuously …
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§12–1014. (a) A registrant that establishes a dedicated account in accordance with § 12–1010(d) of t…
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§12–1015. (a) On or before March 15 of each year, a registrant shall report to the Commissioner on t…
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§12–1016. A violation of this subtitle is: (1) An unfair or deceptive trade practice within the mean…
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§12–1017. This subtitle may be cited as the Maryland Debt Settlement Services Act.
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§12–1101. (a) In this subtitle the following terms have the meanings indicated. (b) (1) “Institution…
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§12–1102. (a) Beginning March 15, 2024, a student financing company shall register with the Commissi…
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§12–1103. (a) On or before March 15, 2024, and March 15 each year thereafter: (1) A student financin…
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§12–1104. The Commissioner may adopt regulations to implement this subtitle.
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§12–1105. (a) (1) The Commissioner may use the investigative and enforcement powers provided under §…
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§12–1201. (a) In this subtitle the following words have the meanings indicated. (b) “Experienced use…
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§12–1202. This subtitle applies to a virtual currency kiosk operator.
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§12–1203. (a) Beginning January 1, 2026, a virtual currency kiosk operator shall register a virtual …
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§12–1204. (a) A virtual currency kiosk operator shall ensure that the virtual currency kiosk does no…
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§12–1205. (a) A virtual currency kiosk operator shall ensure that a virtual currency kiosk displays …
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§12–1206. A virtual currency operator shall maintain live customer support that, at a minimum, is: (…
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§12–1207. A virtual currency kiosk operator shall ensure that the virtual currency kiosk: (1) Operat…
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§12–1208. (a) The Commissioner may use the investigative and enforcement powers under §§ 2–113 throu…
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§12–1209. The Commissioner shall adopt regulations to carry out this subtitle.
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§13–801. (a) In this subtitle the following words have the meanings indicated, unless otherwise requ…
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§13–802. The Maryland State ceiling shall be initially allocated for the period from the first day o…
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§13–803. (a) Except as specifically provided in this section, an issuer receiving an allocation unde…
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§13–804. (a) On September 15 of each calendar year, each issuer shall submit a report, approved in w…
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§13–805. (a) All allocations of the Maryland State ceiling previously made during any calendar year …
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§13–806. (a) (1) The recipients of the proceeds of bonds shall make best efforts to use minority bus…
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§13–807. (a) (1) The Secretary may make any and all allocations, apportionments, determinations, and…
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§13–1001. (a) In this subtitle the following words have the meanings indicated. (b) “Authority” mean…
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§13–1002. The General Assembly makes the following findings: (1) The Chesapeake and Ohio Canal is on…
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§13–1003. This subtitle: (1) Shall be liberally construed to effect its purposes; but (2) May not be…
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§13–1004. (a) There is a body corporate and politic known as the Canal Place Preservation and Develo…
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§13–1005. (a) The Authority consists of: (1) Six members appointed by the Governor with the advice a…
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§13–1006. (a) Five members of the Authority are a quorum. (b) Actions of the Authority must receive …
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§13–1007. (a) With the approval of the Governor, the Authority shall appoint an Executive Director, …
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§13–1008. In addition to the powers set forth elsewhere in this subtitle, the Authority may: (1) Ado…
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§13–1008.1. (a) The Authority may adopt and enforce regulations for the parking of motor vehicles in…
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§13–1009. (a) This section does not affect the right of the Authority to acquire an option or instit…
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§13–1010. The Authority shall: (1) Administer the Heritage Area in accordance with this subtitle; (2…
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§13–1011. Subject to § 13-1012 of this subtitle, within 18 months after the date on which the Author…
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§13–1012. (a) At least 30 days before submitting a management plan to the Maryland Historical Trust …
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§13–1013. (a) Within 90 days after receipt from the Authority of a management plan, the Maryland His…
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§13–1014. (a) Except as provided in subsection (b) of this section and notwithstanding any power ves…
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§13–1015. The City of Cumberland shall submit to the Authority for review and approval any plan for …
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§13–1016. For the purpose of reviewing the development of the management plan for the Heritage Area,…
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§13–1017. (a) There is a Canal Place Preservation and Development Authority Financing Fund. (b) The …
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§13–1018. (a) Subject to this part, the Authority may at any time and from time to time issue bonds …
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§13–1019. The bonds of any issue shall be payable solely from the property or receipts of the Author…
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§13–1020. The bonds that the Authority issues shall: (1) Be issued at, above, or below par value, fo…
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§13–1021. (a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1018(…
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§13–1022. (a) A pledge by the Authority of revenues as security for an issue of bonds shall be valid…
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§13–1023. (a) No member of the Authority nor any person executing the bonds shall be liable personal…
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§13–1024. (a) The Authority may issue bonds to refund any of its bonds then outstanding, including t…
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§13–1025. (a) The Authority may enter into agreements with agents, banks, insurers, or others for th…
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§13–1026. The bonds of the Authority, their transfer, the interest payable on them, and any income d…
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§13–1027. The Authority is exempt: (1) From the payment of taxes or assessments of any kind; (2) Exc…
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§13–1028. For purposes of applying for, receiving, and entering into agreements in connection with l…
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§13–1029. (a) Any unit of the State government that conducts or supports activities affecting the He…
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§13–1030. If the Board of Public Works finds that the Authority or the City of Cumberland has failed…
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§13–1031. This subtitle may be cited as the Canal Place Preservation and Development Authority Act.
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§13–1101. (a) In this subtitle the following words have the meanings indicated. (b) “Authority” mean…
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§13–1102. This subtitle: (1) Shall be liberally construed to effect its purposes; and (2) Shall be c…
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§13–1103. (a) There is a Maryland Heritage Areas Authority, established as: (1) A body corporate and…
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§13–1104. (a) The Authority consists of: (1) The Secretary of Housing and Community Development; (2)…
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§13–1105. (a) Nine voting members of the Authority are a quorum. (b) An action of the Authority must…
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§13–1106. (a) In accordance with the State budget, the Maryland Historical Trust shall dedicate admi…
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§13–1107. In addition to the powers set forth elsewhere in this subtitle, the Authority may: (1) Rec…
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§13–1108. The Authority shall: (1) Meet at least twice each year; (2) Develop and adopt standards, c…
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§13–1109. There is a Maryland system of recognized heritage areas and certified heritage areas that:…
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§13–1110. (a) (1) The Authority may consider proposals submitted by local jurisdictions to designate…
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§13–1111. (a) (1) The Authority may consider proposals submitted by the local jurisdictions within a…
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§13–1112. (a) (1) The State officials under items (i) through (vii) of this subsection who have prog…
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§13–1113. (a) As provided in the State budget, the Authority may award: (1) Grants and loans to loca…
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§13–1114. (a) There is a Maryland Heritage Areas Authority Financing Fund. (b) (1) The Authority sha…
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§13–1115. (a) (1) Subject to this part, the Authority may at any time and from time to time issue bo…
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§13–1116. (a) The bonds of any issue shall be payable solely from the property or receipts of the Au…
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§13–1117. The bonds that the Authority issues shall: (1) Be issued at, above, or below par value, fo…
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§13–1118. (a) Any resolution or trust agreement the Authority adopts or enters into under § 13-1115 …
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§13–1119. (a) A pledge by the Authority of revenues as security for an issue of bonds shall be valid…
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§13–1120. No member of the Authority nor any person executing the bonds of the Authority shall be li…
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§13–1121. (a) The Authority may issue bonds to refund any of its bonds then outstanding, including t…
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§13–1122. (a) The Authority may enter into agreements with agents, banks, insurers, or others for th…
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§13–1123. The bonds of the Authority, their transfer, the interest payable on them, and any income d…
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§13–1124. (a) In this section, “aggrieved person” means: (1) A person that: (i) Is a party to a disp…