Maryland · statute · Md. Code, Fin. Inst. · 952 active provisions
(a) In this article, unless the context clearly requires otherwise, the following words have the meanings indicated. (b) “Address” means post office address, including, if applicable, street and number, municipal area or county, state, and, if outside of the United States, country. (c) “Any state” means: (1) Any state,…
Except as otherwise expressly provided by this article, the Maryland General Corporation Law applies to a financial institution and to all of its corporate acts.
(a) A requirement in this article that a document be acknowledged means that the document shall be acknowledged by an individual: (1) As the act of that individual; or (2) If the document is that of a corporate or other entity, as the act of that entity. (b) A requirement in this article that a document be verified mea…
Before any license or permit may be issued under this article to an employer to engage in an activity in which the employer may employ a covered employee, as defined in § 9-101 of the Labor and Employment Article, the employer shall file with the issuing authority: (1) A certificate of compliance with the Maryland Work…
(a) A provision in an account agreement for a transfer on death in compliance with this section is nontestamentary and shall be effective according to the provisions of this section. Transfers pursuant to this section are effective in the form and manner prescribed by this section and are not to be considered testament…
(a) (1) In this section the following words have the meanings indicated. (2) “Compliance review committee” means: (i) An audit, loan review, or compliance committee appointed by the board of directors of a depository institution; or (ii) Any other person to the extent the person acts in an investigatory capacity at the…
(a) In this section, “fiduciary deposit surety bond” means a surety bond that: (1) Guarantees the payment of deposited funds awaiting distribution or investment held by a financial institution in a fiduciary capacity; and (2) Subject to the terms and conditions of the bond, is irrevocable and absolute. (b) Except as pr…
(a) The directors and officers of a financial institution shall develop and implement written: (1) Policies governing real estate appraisal; and (2) Procedures governing the hiring and performance of real estate appraisers. (b) The procedures required under subsection (a)(2) of this section shall set forth specific fac…
(a) Only the State may enact a law which purports to regulate extensions of credit made by a financial institution. (b) This section does not: (1) Affect federal law preemption of State law; (2) Restrict or otherwise affect local laws that establish property ownership or the rights and obligations of property owners; (…
(a) (1) In this section the following words have the meanings indicated. (2) “Account agreement” means one or more written instruments that establish when a certificate of deposit is payable. (3) “Certificate of deposit” means a deposit or share account at a depository institution that: (i) Is payable by the depository…
(a) (1) In this section the following words have the meanings indicated. (2) “Depository institution” means a financial institution that: (i) Is located in this State or maintains a branch in this State; and (ii) Is authorized to maintain qualifying accounts. (3) “Eligible customer” means an individual who: (i) Maintai…
If a financial institution requires a customer to provide an answer to a security question in connection with the provision of an account, the financial institution shall allow the customer to choose from at least two security questions options for each required security question.
(a) (1) In this section the following words have the meanings indicated. (2) “Credit union” has the meaning stated in § 6–101 of this article. (3) “Savings and loan association” has the meaning stated in § 8–101 of this article. (b) This section applies only to: (1) A banking institution; (2) A credit union; (3) A savi…
(a) In this subtitle the following words have the meanings indicated. (b) (1) “Fiduciary institution” means: (i) A national banking association; (ii) A State banking institution; (iii) An other-state bank that maintains a branch in this State; (iv) A credit union that is organized under the laws of this State or of the…
Except as otherwise expressly provided in this subtitle, a fiduciary institution, its officers, employees, agents, and directors: (1) May not disclose to any person any financial record relating to a customer of the institution unless: (i) The customer has authorized the disclosure to that person; (ii) Proceedings have…
This subtitle does not prohibit: (1) The preparation, examination, handling, or maintenance of financial records by any officer, employee, or agent of a fiduciary institution that has custody of the records; (2) The examination of financial records by a certified public accountant while engaged by a fiduciary instituti…
(a) In this section, “subpoena” means a subpoena, summons, warrant, or court order that appears on its face to have been issued on lawful authority. (b) A fiduciary institution may disclose or produce financial records or information derived from financial records in compliance with a subpoena served on the fiduciary i…
(a) Any officer, employee, agent, or director of a fiduciary institution who knowingly and willfully discloses financial records in violation of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine of not more than $1,000. (b) Any person who knowingly and willfully induces or attempts to indu…
(a) (1) In this section the following words have the meanings indicated. (2) “Abuse report” means the report required under subsection (d) of this section. (3) “Elder adult” means an individual who is believed to be: (i) At least 65 years old; and (ii) Residing in the State. (4) “Financial abuse” means to take, appropr…
(a) In this subtitle the following words have the meanings indicated. (b) (1) “Access area” means any paved walkway or sidewalk which is within 50 feet of an automated teller machine. (2) “Access area” does not include any publicly maintained street or highway or any adjacent sidewalk. (c) “Access device” has the meani…
(a) (1) (i) This section does not apply to any person: 1. Whose primary function is to provide for the exchange, transfer, or dissemination of electronic fund transfer data; and 2. That is not otherwise an operator or person who controls an access area or designated parking area. (ii) A person described in subparagraph…
(a) This section does not apply to an automated teller machine that is: (1) Located inside a building unless: (i) The building is a freestanding installation that exists solely to provide an enclosure for the automated teller machine; or (ii) A user of the automated teller machine is able to conduct a transaction from…
(a) Subject to this section, a banking institution or credit union may have an automated teller machine at a location other than the principal office or a branch of a banking institution or credit union. (b) (1) Except as provided in paragraph (2) of this subsection, at least 15 business days before commencing the inst…
(a) At or before the time a transaction is initiated, the operator of an automated teller machine shall provide the person using the automated teller machine with notice of the fee to be charged by the operator for use of the automated teller machine by persons using access devices not issued by the operator. (b) (1) T…
(a) “Foreign banking corporation” has the meaning stated in § 12-201(e) of this article. (b) A foreign banking corporation may not have an automated teller machine in this State for any purpose unless: (1) The foreign banking corporation obtains from the Commissioner a permit for the automated teller machine; or (2) Th…