§ 3-605. Owning and leasing personal property

MD Fin Inst Code § 3-605 (2019) (N/A)
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(a)    This section does not apply to a leasehold interest in real property.

(b)    Subject to the rules and regulations of the Commissioner, a commercial bank may become the owner and lessor of personal property if:

(1)    The personal property is acquired on the specific request of and for the use of a customer; and

(2)    The investment of the commercial bank in personal property does not exceed:

(i)    For any one customer, 10 percent of the unimpaired capital and surplus of the commercial bank; and

(ii)    For all of its customers, the total of its unimpaired capital and surplus.