(a) A banking institution may buy and hold real property only as provided in this section. (b) (1) Subject to the limitations in paragraph (3) of this subsection, a banking institution may buy or hold any real property that is necessary for the convenient transaction of its business. (2) In addition to its offices, this property may include: (i) A […]
(a) Notwithstanding any other provision of the laws or regulations of this State and subject to subsection (b) of this section, a banking institution may engage in any additional activity, service, or other practice in which, under federal law, national banking associations may engage subject to the same conditions that federal law requires or allows as […]
Before a banking institution makes an unsecured loan of $10,000 or more to any person, the banking institution shall obtain sufficient financial information from the person to support the loan.
(a) If a banking institution rejects an application for a residential mortgage loan, the banking institution shall give the applicant, at the applicant’s request, written notice of the rejection. (b) The applicant may use this written notice as evidence of rejection for purposes of the Maryland Home Financing Program.
If a banking institution holds a first mortgage on residential property and a private mortgage insurance corporation partially insures the mortgage, the banking institution shall eliminate all charges to the mortgagor for mortgage insurance premiums when the mortgage is reduced to the level at which the federal Homeowners Protection Act of 1998 requires termination of […]
(a) Each banking institution shall be a member of the Federal Deposit Insurance Corporation unless the institution is not in the business of accepting deposits or retaining funds in a deposit account. A banking institution is not in the business of accepting deposits if it accepts a deposit as a trustee or custodian and is not […]
(a) Banking institutions may not have common directors unless the Commissioner finds that a common directorship is in the public interest and not detrimental to either banking institution. (b) (1) An individual who now is a director of more than one banking institution may complete the term of office of each directorship and may be reelected to each […]
(a) (1) In this section the following words have the meanings indicated. (2) “Commercial loan” means a loan that is made: (i) Solely to acquire or carry on a business or commercial enterprise; or (ii) To any business or commercial organization. (3) “Consumer loan” means a loan that is made primarily for personal, family, or household purposes. (4) “Executive officer” has the […]
(a) (1) In this section the following words have the meanings indicated. (2) “Check” means a draft that is drawn on a banking institution and payable on demand. (3) “Check facsimile” means a copy of an original check reproduced through photographic, photostatic, microfilm, microcard, miniature photographic, optical imaging, electronic, digital, magnetic, wireless, electromagnetic, or other process that accurately reproduces […]
