# Alcoholic Beverages and Cannabis (GAB) ## Title 36. Medical and Adult-Use Cannabis ### Subtitle 15. Banking and Insurance #### Section 36-1501 (a) In this subtitle the following words have the meanings indicated. (b) "Cannabis business" means a manufacturer, producer, or another person that: (1) participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products; and (2) engages in an activity described in item (1) of this subsection in accordance with State law. (c) "Depository institution" means a State-chartered or federally chartered financial institution, other-state bank, or foreign branch that: (1) is located in the State or maintains branches in the State; and (2) is authorized to maintain accounts. (d) (1) "Service provider" means a business, an organization, or any other person that: (i) sells goods or services to a cannabis business; or (ii) provides any business services, including the sale or lease of real or any other property, legal or other licensed services, or any other ancillary service, relating to cannabis. (2) "Service provider" does not include a business, an organization, or any other person that participates in any business or organized activity that involves handling cannabis or cannabis products, including cultivating, producing, manufacturing, selling, transporting, displaying, dispensing, distributing, or purchasing cannabis or cannabis products. #### Section 36-1502 The provisions in this subtitle apply to: (1) all banks, credit unions, and other entities operating as depository institutions in the State; and (2) insurance companies and insurance producers operating in the State. #### Section 36-1503 (a) The Commissioner of Financial Regulation may not: (1) terminate or limit the deposit insurance or share insurance of a depository institution under the Federal Deposit Insurance Act or the Federal Credit Union Act, a depository institution operating in the State under the Financial Institutions Article, or take any other adverse action against a depository institution under 12 U.S.C. Sec. 1818 solely because the depository institution provides or has provided financial services to a cannabis business or service provider; (2) prohibit, penalize, or otherwise discourage a depository institution from providing financial services to a cannabis business in the State; (3) recommend, incentivize, or encourage a depository institution to not offer financial services to an account holder, or to downgrade or cancel the financial services offered to an account holder solely because: (i) the account holder is a cannabis business or service provider, or is an employee, owner, or operator of a cannabis business or service provider; (ii) the account holder later becomes an employee, owner, or operator of a cannabis business or service provider; or (iii) the depository institution was not aware that the account holder is an employee, owner, or operator of a cannabis business or service provider; (4) take any adverse or corrective supervisory action on a loan made to: (i) a cannabis business or service provider solely because the business is a cannabis business or service provider; (ii) an employee, owner, or operator of a cannabis business or service provider solely because the employee, owner, or operator is employed by, owns, or operates a cannabis business or service provider, as applicable; or (iii) an owner or operator of real estate or equipment that is leased to a cannabis business or service provider solely because the owner or operator of the real estate or equipment leased the equipment or real estate to a cannabis business or service provider, as applicable; or (5) prohibit or penalize a depository institution, or an entity performing a financial service for or in association with a depository institution, or otherwise discourage a depository institution, or an entity performing a financial service for or in association with a depository institution, from engaging in a financial service for a cannabis business or service provider. (b) Subsection (a) of this section shall apply to an institution applying for a depository institution charter to the same extent as it applies to a depository institution. #### Section 36-1504 For the purposes of 18 U.S.C. Sec.Sec. 1956 and 1957 and all other provisions of federal law, the proceeds from a transaction involving activities of a cannabis business or service provider may not be considered proceeds from an unlawful activity solely because: (1) the transaction involves proceeds from a cannabis business or service provider; or (2) the transaction involves proceeds from: (i) cannabis activities conducted by a cannabis business; or (ii) activities conducted by a service provider. #### Section 36-1505 (a) With respect to providing a financial service to a cannabis business or a service provider, a depository institution, entity performing a financial service for or in association with a depository institution, or insurer that provides a financial service to a cannabis business or service provider, and the officers, directors, and employees of that depository institution, entity, or insurer may not be held liable under any State law or regulation: (1) solely for providing the financial service; or (2) for further investing any income derived from the financial service. (b) An insurer that engages in the business of insurance with a cannabis business or service provider or that otherwise engages with a person in a transaction allowed under State law related to cannabis, and the officers, directors, and employees of that insurer may not be held liable under State law or regulation: (1) solely for engaging in the business of insurance; or (2) for further investing any income derived from the business of insurance. (c) A depository institution that has a legal interest in the collateral for a loan or another financial service provided to an owner, employee, or operator of a cannabis business or service provider, or to an owner or operator of real estate or equipment that is leased or sold to a cannabis business or service provider, may not be subject to criminal, civil, or administrative forfeiture of that legal interest under State law for providing the loan or other financial service. #### Section 36-1506 (a) This subtitle does not require a depository institution, entity performing a financial service for or in association with a depository institution, or insurer to provide financial services to a cannabis business, service provider, or any other business. (b) This subtitle may not be construed to limit or otherwise restrict the general examination, supervisory, and enforcement authority of the Commissioner of Financial Regulation, provided that the basis for any supervisory or enforcement action is not the provision of financial services to a cannabis business or service provider. (c) This subtitle may not be construed to interfere with the regulation of the business of insurance. #### Section 36-1507 The State may not cooperate or aid federal law enforcement authorities attempting to prosecute financial institutions that are lawfully operating within the confines of this subtitle. --- Md. Code Ann., Alco. Bev. (as displayed at mgaleg.maryland.gov, October 16, 2026)