Section 5-1005 - Establishment of branch - Prerequisites. - Maryland Statutes

§ 5-1005. Establishment of branch - Prerequisites.
 

(a)  Notice of intention.- Except as provided in subsection (b) of this section, a banking institution that proposes to establish a branch in this State or in another state shall: 

(1) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch; and 

(2) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch. 

(b)  Expedited notice.- A well-capitalized banking institution with a composite CAMELS rating of one or two may establish a branch in this State by filing with the Commissioner an expedited notice, in the form that the Commissioner requires, at least 30 days before the intended opening date. 
 

[1995, ch. 213, § 2; 2008, ch. 293; 2009, ch. 741.]