Maryland Code, Financial Institutions 5-1006
Maryland Code > Financial Institutions > § 5-1006
Current as of: 2010
(a) Subject to subsection (b) of this section, in deciding whether to approve a branch of a banking institution, the Commissioner shall consider:
(1) If the branch is to be established in this State, whether the establishment of the branch will promote the public convenience;
(2) Whether the applicant has sufficient capital to support the branch; and
(3) Whether the applicant is generally operating in compliance with the provisions of this article.
(b) (1) Subject to paragraph (2) of this subsection, a well–capitalized banking institution with a composite CAMELS rating of one or two may open a branch in this State without the approval of the Commissioner 30 days after filing an expedited notice for the proposed branch under § 5–1005(b) of this subtitle.
(2) The Commissioner may:
(i) Require the submission of additional information regarding the proposed establishment of a branch during the 30–day period that the expedited notice is pending; and
(ii) Prohibit the establishment of the branch within the 30–day period if the Commissioner determines that establishment of the branch is not consistent with the standards set forth in subsection (a) of this section.
Prev | Next
Questions & Answers: Financial Services
Federal Regulations: Financial Services
LawServer is for purposes of information only and is no substitute for legal advice.
© 2013 LawServer, Inc. All rights reserved