LegalFix
Sign In

§ 5-1003. Establishment of branch -- In Maryland

MD Fin Inst Code § 5-1003 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(a)    A banking institution or an out–of–state bank may establish a branch in this State by:

(1)    Subject to subsection (b) of this section, opening a de novo branch;

(2)    Purchasing an existing branch from a bank or an insured depository institution; or

(3)    Converting former headquarters or retaining former branches following:

(i)    The purchase of all or substantially all of the assets of a bank or an insured depository institution; or

(ii)    A merger or a consolidation with a bank or an insured depository institution.

(b)    An out–of–state bank may establish a de novo branch in this State under subsection (a)(1) of this section only if the home state of the out–of–state bank allows a banking institution to open a de novo branch in its state.

(c)    A banking institution or an out–of–state bank may not establish or maintain a branch in this State on the premises or property of an affiliate if the affiliate engages in commercial activities.

Previous Section
§ 5-1002. Scope of subtitle
Next Section
§ 5-1004. Establishment of branch -- In another state