Section 2-117 - Cooperative and information sharing agreements. - Maryland Statutes

§ 2-117. Cooperative and information sharing agreements.
 

(a)  In general.- Subject to subsections (b) and (c) of this section, notwithstanding any other provision of state laws or regulations, the Commissioner may: 

(1) Enter into cooperative and information sharing agreements with any federal or state regulatory agency having authority over financial institutions, provided that the agreements prohibit the agency from disclosing any shared information without prior written consent from the Commissioner regarding disclosure of the particular information; and 

(2) Exchange information about a financial institution, including information obtained during an examination, with any federal or state regulatory agency having authority over the financial institution. 

(b)  Affiliates.- Notwithstanding § 2-113(d) of this subtitle, an affiliate as defined in § 2-113(a) of this subtitle is subject to subsection (a) of this section if that affiliate maintains or is required to maintain a license issued by the Commissioner. 

(c)  Federal preemption.- This section does not authorize the Commissioner to share or exchange information in any way prohibited by federal law. 
 

[2008, ch. 499.]