Md. Code, Fin. Inst. § 3-212

(a) After its articles of incorporation are filed for record and its required capital stock and surplus are paid in full, the commercial bank shall give to the Commissioner: (1) Notice that the commercial bank has complied with all of the applicable provisions of this title; and (2) A certified list of all of its stockholders, including their names and residence addresses and the number of shares of capital stock for which each paid. (b) The Commissioner shall examine the condition of the commercial bank to determine: (1) The name and residence of each director; (2) If the required capital stock and surplus are paid in full; and (3) If the commercial bank has complied with all other applicable provisions of this title. (c) If, after examination, it appears that the commercial bank lawfully is entitled to do business, the Commissioner shall issue the certificate of authority to do business. (d) (1) If, after examination, it appears that the required capital stock and surplus have not been paid in full, the Commissioner may not issue the certificate of authority to do business. (2) If, after examination, the Commissioner has reason to believe that the stockholders formed the commercial bank for any purpose other than legitimate business under this article, the Commissioner, with the advice and consent of the Secretary of Labor, may withhold the certificate.