Section 5-1006 - Approval of branch - Considerations. - Maryland Statutes

§ 5-1006. Approval of branch - Considerations.
 

(a)  In general.- Subject to subsection (b) of this section, in deciding whether to approve a branch of a banking institution, the Commissioner shall consider: 

(1) If the branch is to be established in this State, whether the establishment of the branch will promote the public convenience; 

(2) Whether the applicant has sufficient capital to support the branch; and 

(3) Whether the applicant is generally operating in compliance with the provisions of this article. 

(b)  Exception; expedited notice.-  

(1) Subject to paragraph (2) of this subsection, a well-capitalized banking institution with a composite CAMELS rating of one or two may open a branch in this State without the approval of the Commissioner 30 days after filing an expedited notice for the proposed branch under § 5-1005(b) of this subtitle. 

(2) The Commissioner may: 

(i) Require the submission of additional information regarding the proposed establishment of a branch during the 30-day period that the expedited notice is pending; and 

(ii) Prohibit the establishment of the branch within the 30-day period if the Commissioner determines that establishment of the branch is not consistent with the standards set forth in subsection (a) of this section. 
 

[1995, ch. 213, § 2; 2009, ch. 741.]