Section 5-802 - Violations of law. - Maryland Statutes

§ 5-802. Violations of law.
 

(a)  Commissioner to report violation.- If the Commissioner believes that a banking institution or any of its directors, officers, trustees, managers, agents, or employees has violated any provision of this article that relates to the institution, the Commissioner immediately shall report the violation to the Secretary of Labor, Licensing, and Regulation, who shall ask the Attorney General to take the appropriate steps to institute a prosecution for the violation. 

(b)  Removal of director or officer.-  

(1) The Commissioner shall send a warning to a director or officer of a banking institution who the Commissioner believes has violated any provision of this article that relates to the institution. 

(2) If, after the warning, the director or officer continues to violate the law, the director or officer may be removed as provided in § 5-801 of this subtitle. 

(c)  Penalties.- Unless another penalty specifically is provided elsewhere in this article, any banking institution and any director, officer, trustee, manager, agent, or employee of a banking institution who violates any provision of this article that relates to the institution is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both. 
 

[An. Code 1957, art. 11, §§ 11, 18; 1980, ch. 33, § 2; 1995, ch. 120, § 19; 1996, ch. 326, § 2.]