Section 2-203 - Function and duties. - Maryland Statutes

§ 2-203. Function and duties.
 

(a)  Function.- The function of the Banking Board is advisory. 

(b)  Duties.- The Banking Board shall give the Commissioner sound and impartial advice on: 

(1) The approval or disapproval of applications by a banking institution and foreign banking corporation; 

(2) How to protect the interests of the general public and of depositors and stockholders in banking institutions; and 

(3) Any other matter concerning banking institutions or the business of banking in this State. 

(c)  Statement if advice not followed.- If the Commissioner does not follow the advice of the Banking Board, the Commissioner shall send to the Banking Board a written statement of the reason for the action. 
 

[An. Code 1957, art. 11, § 27; 1980, ch. 33, § 2; 1981, ch. 753, § 1; 1996, ch. 326, § 2.]