(a) A financial institution may apply to the Commissioner to be supervised and examined by the Commissioner to the same extent that a banking institution is supervised and examined under Title 5, Subtitle 2 of this article, other than § 5–203, if: (1) The financial institution is a nonstock corporation under Title 5, Subtitle 2 of the […]
To qualify for supervision and examination, the applicant shall satisfy the Commissioner that the applicant: (1) Is trustworthy and reputable; (2) Has a good business reputation; and (3) Has sufficient business experience, moral character, financial responsibility, and genuine fitness to: (i) Command the confidence of the public; and (ii) Warrant the belief that the business will be operated lawfully, honestly, […]
(a) (1) To apply for supervision and examination under this subtitle, an applicant shall sign and submit to the Commissioner a verified application on the form that the Commissioner requires. (2) The applicant shall comply with all conditions and provisions within the application. (3) The applicant shall submit any other information that the Commissioner may require. (b) With the application, […]
Any financial institution supervised and examined under this subtitle shall be subject to the same reporting requirements as a banking institution under Title 5, Subtitle 2 of this article, other than § 5-208.
(a) If the Commissioner believes that a financial institution supervised and examined under this subtitle has engaged in an unsafe or unsound banking practice, or has failed to comply with the law, the Commissioner shall send a warning to the financial institution. (b) If the Commissioner finds that the financial institution has continued to engage in the […]
(a) If the Commissioner takes any action under § 12-705(b) of this subtitle, the Commissioner shall give the financial institution the opportunity for a hearing. (b) Notice of the hearing shall be given and a hearing shall be held in accordance with the Administrative Procedure Act.
Any person who is aggrieved by any decision or finding of the Commissioner under this subtitle may appeal to the circuit court for the county in which the aggrieved person resides or has a principal place of business, or, if the aggrieved person resides or has a principal place of business in Baltimore City, to […]
(a) The Commissioner, not more often than once per year, may impose annual assessments on each financial institution supervised and examined by the Commissioner under this subtitle, to cover the expense of supervising and examining that financial institution. (b) (1) The Commissioner may assess each financial institution the sum of: (i) $1,000; plus (ii) 8 cents for each $1,000 of […]
The Commissioner may adopt regulations to carry out the provisions of this subtitle.
