Section 3-701 - Definitions. - Maryland Statutes

§ 3-701. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated. 

(b)  Bank.- "Bank" means a commercial bank, a national banking association, an other-state bank, or a federally chartered savings bank or savings and loan association. 

(c)  Constituent bank.- "Constituent bank" means a party to a consolidation, merger, or transfer of assets. 

(d)  Successor.- "Successor" means the bank that carries on the business of the constituent banks after a consolidation, merger, or transfer of assets. 

(e)  Transfer assets.- "Transfer assets", "transfer its assets", or "transfer of assets" means to sell, lease, exchange, or otherwise transfer all or substantially all of the property and assets of a constituent bank. 
 

[An. Code 1957, art. 11, § 109; 1980, ch. 33, § 2; 1985, 2nd Sp. Sess., ch. 3; 1994, ch. 72; 1995, ch. 213, § 2; 1996, ch. 10, § 1.]