Section 5-201 - Examination of institution. - Maryland Statutes

§ 5-201. Examination of institution.
 

(a)  Examinations required.- An examiner shall visit each banking institution and examine its business: 

(1) At least once during each calendar year, unless the Commissioner determines that, during a calendar year, an examination is unnecessary, in which event an examination shall occur no less frequently than once every 18 months; 

(2) When asked to do so by the board of directors of the institution; or 

(3) At any other time that the Commissioner considers necessary. 

(b)  Purpose.- The examiner shall determine: 

(1) The condition of the institution; and 

(2) Whether it is complying with the law. 

(c)  Access to records.- During an examination, the examiner, in the presence of an officer of the banking institution, shall have access to all of the vaults and records of the institution. 
 

[An. Code 1957, art. 11, §§ 6, 20; 1980, ch. 33, § 2; 1981, ch. 618; 1987, ch. 31; 1996, ch. 192; ch. 326, § 2.]