<section article="gfi" article_name="Financial Institutions" number="1-101" title_number="1" title_name="Definitions; General Provisions" subtitle_number="1" subtitle_name="Definitions"> <level label="a"> <text>In this article, unless the context clearly requires otherwise, the following words have the meanings indicated.</text> </level> <level label="b"> <text>“Address” means post office address, including, if applicable, street and number, municipal area or county, state, and, if outside of the United States, country.</text> </level> <level label="c"> <text>“Any state” means:</text> <level label="1"> <text>Any state, possession, or territory of the United States;</text> </level> <level label="2"> <text>The District of Columbia; or</text> </level> <level label="3"> <text>The Commonwealth of Puerto Rico.</text> </level> </level> <level label="d"> <text>“Banking institution” means an institution that is incorporated under the laws of this State as a State bank, trust company, or savings bank.</text> </level> <level label="e"> <text>“Charter” has the meaning stated in § 1–101 of the Corporations and Associations Article.</text> </level> <level label="f"> <text>“Commercial bank” means an institution that is incorporated under the laws of this State as a State bank or trust company.</text> </level> <level label="g"> <text>“Commissioner” means the Commissioner of Financial Regulation in the Maryland Department of Labor.</text> </level> <level label="h"> <text>“County” means a county of this State and, unless otherwise indicated, Baltimore City.</text> </level> <level label="i"> <text>“Credit union” means a credit union that is incorporated under the laws of this State as a credit union.</text> </level> <level label="j"> <text>“Financial institution” means any financial institution of the type supervised under this article, whether or not State–chartered.</text> </level> <level label="k"> <level label="1"> <text>“Foreign bank” means any financial institution or other institution that engages in banking activities that are usual in connection with the business of banking in the nations in which the institution is organized or operates.</text> </level> <level label="2"> <text>“Foreign bank” does not include a bank organized under the laws of any state or a national banking association that has its headquarters in any state.</text> </level> </level> <level label="l"> <text>“Includes” or “including” means includes or including by way of illustration and not by way of limitation.</text> </level> <level label="m"> <text>“Mail” means to deposit in the United States mail, postage prepaid.</text> </level> <level label="n"> <text>“Mortgage” includes a deed of trust that secures a debt or the performance of an obligation.</text> </level> <level label="o"> <text>“Municipal area” means a municipal corporation or an unincorporated city, town, or village.</text> </level> <level label="p"> <text>“National banking association” means an institution that is incorporated under federal law as a bank.</text> </level> <level label="q"> <text>“Nationwide Multistate Licensing System” or “NMLS” means a multistate uniform licensing system developed and maintained by the Conference of State Bank Supervisors, or by a subsidiary or an affiliate of the Conference of State Bank Supervisors, that may be used for the licensing and registration of persons required to be licensed or registered under this article or the Commercial Law Article.</text> </level> <level label="r"> <text>“Other–state bank” means a bank chartered and primarily regulated by another state.</text> </level> <level label="s"> <text>“Other–state credit union” means a credit union chartered and primarily regulated by another state.</text> </level> <level label="t"> <text>“Person” means an individual, receiver, trustee, guardian, personal representative, fiduciary, or representative of any kind and any partnership, firm, association, corporation, or other entity.</text> </level> <level label="u"> <text>“Political subdivision” means:</text> <level label="1"> <text>A county or municipal corporation of this State; and</text> </level> <level label="2"> <text>Unless the context requires otherwise, a special taxing district of this State.</text> </level> </level> <level label="v"> <text>“Real property” includes any interest in real property.</text> </level> <level label="w"> <text>“Regulated entity” means a person who is licensed or chartered by the Office of Financial Regulation.</text> </level> <level label="x"> <level label="1"> <text>“Third–party service provider” means a person who performs activities relating to financial services on behalf of a regulated entity for that regulated entity’s customers.</text> </level> <level label="2"> <text>“Third–party service provider” includes a person who provides:</text> <level label="i"> <text>Data processing services;</text> </level> <level label="ii"> <text>Activities that support financial services, including:</text> <level label="1"> <text>Lending;</text> </level> <level label="2"> <text>Funds transfer;</text> </level> <level label="3"> <text>Fiduciary activities;</text> </level> <level label="4"> <text>Trading activities; and</text> </level> <level label="5"> <text>Deposit taking;</text> </level> </level> <level label="iii"> <text>Internet–related services, including:</text> <level label="1"> <text>Web services and electronic bill payments;</text> </level> <level label="2"> <text>Mobile applications;</text> </level> <level label="3"> <text>System and software development and maintenance; and</text> </level> <level label="4"> <text>Security monitoring; or</text> </level> </level> <level label="iv"> <text>Any other similar activity the Commissioner designates by regulation as related to financial services.</text> </level> </level> <level label="3"> <text>“Third–party service provider” does not include:</text> <level label="i"> <text>A provider of an interactive computer service or a general audience Internet or communications platform, except to the extent that the service or platform is specially designed or adapted for financial services and activities related to financial services; or</text> </level> <level label="ii"> <text>Any person that controls, or is under common control with, an entity licensed by the Commissioner unless the person performs for the licensed entity any of the activities described in paragraph (2) of this subsection.</text> </level> </level> </level> <level label="y"> <text>“Uniformed services” has the meaning stated in § 9–901 of the State Government Article.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-201" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <text>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.</text> </section> <section article="gfi" article_name="Financial Institutions" number="1-202" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <text>A requirement in this article that a document be acknowledged means that the document shall be acknowledged by an individual:</text> <level label="1"> <text>As the act of that individual; or</text> </level> <level label="2"> <text>If the document is that of a corporate or other entity, as the act of that entity.</text> </level> </level> <level label="b"> <text>A requirement in this article that a document be verified means that the document shall be verified by a declaration made under the penalties for perjury that the matters and facts contained in the document are true to the best of the knowledge, information, and belief of the individual making the declaration.</text> </level> <level label="c"> <text>The acknowledgment or verification shall be made:</text> <level label="1"> <text>Before an individual authorized to take acknowledgments or administer oaths; or</text> </level> <level label="2"> <text>By a signed statement of acknowledgment or verification that:</text> <level label="i"> <text>Is in the document or attached to and made part of the document; and</text> </level> <level label="ii"> <text>As to a verification, states that the statement is made under the penalties for perjury.</text> </level> </level> </level> <level label="d"> <text>If the procedures provided in subsection (c)(2) of this section are used:</text> <level label="1"> <text>A statement of acknowledgment has the same legal effect as an acknowledgment made before an individual authorized to take acknowledgments; and</text> </level> <level label="2"> <text>A statement of verification subjects the individual making the statement to the penalties for perjury to the same extent as if the statement had been verified under oath before an individual authorized to administer oaths.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-203" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <text>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:</text> <level label="1"> <text>A certificate of compliance with the Maryland Workers’ Compensation Act; or</text> </level> <level label="2"> <text>The number of a workers’ compensation insurance policy or binder.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-204" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <text>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 testamentary.</text> </level> <level label="b"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <level label="i"> <text>“Account” means any type of deposit or share account at a depository institution.</text> </level> <level label="ii"> <text>“Account” includes:</text> <level label="1"> <text>Checking and other demand deposit accounts;</text> </level> <level label="2"> <text>Negotiable order of withdrawal and other savings accounts;</text> </level> <level label="3"> <text>Share draft accounts; and</text> </level> <level label="4"> <text>Certificated and uncertificated time deposit accounts.</text> </level> </level> </level> <level label="3"> <text>“Account agreement” means a written agreement, whether in one or more instruments, that establishes the type of account, the terms of account, and the relationship between the depository institution and the party or parties to the account.</text> </level> <level label="4"> <text>“Beneficiary” means any person designated on a trust account as a person:</text> <level label="i"> <text>To whom the account belongs after the death of all trustees for the account; and</text> </level> <level label="ii"> <text>Who does not possess a present right to draw upon funds in the account during the lifetime of any trustee for the account.</text> </level> </level> <level label="5"> <text>“Convenience person” means any person who is authorized to draw upon funds in an account:</text> <level label="i"> <text>Under a power of attorney given by one or more parties to the account; or</text> </level> <level label="ii"> <text>By virtue of a designation in the account agreement appointing that person as agent of a party or the parties to the account for the convenience of the party or parties.</text> </level> </level> <level label="6"> <text>“Depository institution” means any State–chartered or federally chartered financial institution, other–state bank, or foreign bank that:</text> <level label="i"> <text>Is located in this State or maintains a branch in this State; and</text> </level> <level label="ii"> <text>Is authorized to maintain accounts.</text> </level> </level> <level label="7"> <text>“Joint account” means any account other than a P.O.D. account or a trust account established in the name of two or more parties.</text> </level> <level label="8"> <level label="i"> <text>“Multiple–party account” means any of the following types of accounts at a depository institution:</text> <level label="1"> <text>Joint account;</text> </level> <level label="2"> <level label="P"> <level label="O"> <level label="D"> <text>account; or</text> </level> </level> </level> </level> <level label="3"> <text>Trust account.</text> </level> </level> <level label="ii"> <text>“Multiple–party account” does not include any:</text> <level label="1"> <text>Account established and designated for the deposit of funds of a corporation, partnership, joint venture, limited liability company, or other association of persons for business purposes;</text> </level> <level label="2"> <text>Account established and designated for the deposit of funds of a charitable or civic organization;</text> </level> <level label="3"> <text>Fiduciary account where the relationship is established other than by the account agreement;</text> </level> <level label="4"> <text>Account established and designated as governed under the Maryland Uniform Transfers to Minors Act;</text> </level> <level label="5"> <text>Account established and designated as governed under Title 13, Subtitle 4 of the Estates and Trusts Article; or</text> </level> <level label="6"> <text>Account that would not be a multiple–party account except for the fact that one or more convenience persons are authorized to draw upon funds in the account.</text> </level> </level> </level> <level label="9"> <level label="i"> <text>“Party” means any person who, by the terms of the account agreement, possesses a present right to draw upon funds in a multiple–party account.</text> </level> <level label="ii"> <text>“Party” includes a trustee of a trust account.</text> </level> <level label="iii"> <text>“Party” does not include a:</text> <level label="1"> <text>Beneficiary of a trust account;</text> </level> <level label="2"> <level label="P"> <level label="O"> <level label="D"> <text>payee of a P.O.D. account; or</text> </level> </level> </level> </level> <level label="3"> <text>Convenience person.</text> </level> </level> </level> <level label="10"> <text>“P.O.D. account” means any account established in the name of one or more parties where funds in the account may be drawn upon:</text> <level label="i"> <text>By one party during the party’s lifetime and by one or more P.O.D. payees on the party’s death; or</text> </level> <level label="ii"> <text>By one or more parties during their respective lifetimes and, upon the death of all the parties, by one or more P.O.D. payees.</text> </level> </level> <level label="11"> <text>“P.O.D. payee” means any person designated on a P.O.D. account as a person:</text> <level label="i"> <text>To whom the account belongs after the death of all parties to the account; and</text> </level> <level label="ii"> <text>Who does not possess a present right to draw upon funds in the account during the lifetime of any party to the account.</text> </level> </level> <level label="12"> <level label="i"> <text>“Power of attorney” means any writing signed by one or more parties to an account that authorizes one or more persons to draw upon funds in the account as agent or agents for the signing party or parties.</text> </level> <level label="ii"> <text>The designation of a person as a convenience person on an account shall be deemed to be a durable power of attorney appointing that person as agent for the party or parties to the account regardless of any disability of the party or parties subsequent to the designation.</text> </level> </level> <level label="13"> <level label="i"> <text>“Trust account” means any account established in the name of one or more parties as trustees for one or more beneficiaries where:</text> <level label="1"> <text>None of the beneficiaries is also a trustee;</text> </level> <level label="2"> <text>The trust relationship is established by the account agreement; and</text> </level> <level label="3"> <text>There is no corpus of the trust other than the funds in the account.</text> </level> </level> <level label="ii"> <text>“Trust account” does not include a:</text> <level label="1"> <text>Trust account under a testamentary trust, declaration of trust, or a trust agreement that has significance apart from the account; or</text> </level> <level label="2"> <text>Fiduciary account arising from a fiduciary relationship.</text> </level> </level> </level> </level> <level label="c"> <level label="1"> <text>A depository institution is authorized to establish multiple–party accounts subject to the terms of this section.</text> </level> <level label="2"> <text>Multiple–party accounts established on or after October 1, 1993, shall be subject to and comply with the terms of this section.</text> </level> <level label="3"> <text>A multiple–party account established before October 1, 1993, shall be subject to and comply with the terms of this section if:</text> <level label="i"> <text>The parties expressly state in an account agreement that complies with subsection (e) of this section that the account shall be subject to the terms of this section; or</text> </level> <level label="ii"> <level label="1"> <text>The depository institution gives a written notice that:</text> </level> <level label="A"> <text>States that the law applicable to the account has changed;</text> </level> <level label="B"> <text>States that the party’s rights under the account may change because of the change in law; and</text> </level> <level label="C"> <text>Repeats the provisions of subsection (d) of this section; and</text> </level> <level label="2"> <text>After that notice is given, any party to the account:</text> </level> <level label="A"> <text>Increases or decreases the amount of the deposit in the account;</text> </level> <level label="B"> <text>Presents evidence of the account for crediting of interest;</text> </level> <level label="C"> <text>Corresponds or responds in writing with the depository institution concerning the account without rejecting in writing the provisions of this section; or</text> </level> <level label="D"> <text>Otherwise indicates approval of the account being governed by this section as evidenced by a writing on file with the depository institution.</text> </level> </level> </level> </level> <level label="d"> <level label="1"> <text>Upon the death of a party to a multiple–party account, the right to any funds in the account shall be determined in accordance with the express terms of the account agreement.</text> </level> <level label="2"> <text>If the account agreement does not expressly establish the right to funds in the account upon the death of a party, or if there is no account agreement, any funds in the account upon the death of a party shall belong to the surviving party or parties.</text> </level> <level label="3"> <text>Unless the account agreement expressly provides otherwise, upon the death of the last party to a multiple–party account, any funds remaining in the account shall belong to:</text> <level label="i"> <text>The beneficiaries of a trust account who are then living;</text> </level> <level label="ii"> <text>The P.O.D. payees of a P.O.D. account who are then living; or</text> </level> <level label="iii"> <text>Subject to paragraph (4) of this subsection, the personal representative of:</text> <level label="1"> <text>The last surviving party of a trust account if no beneficiary is then living;</text> </level> <level label="2"> <text>The last surviving party of a P.O.D. account if no P.O.D. payee is then living; or</text> </level> <level label="3"> <text>The last surviving party of a joint account.</text> </level> </level> </level> <level label="4"> <text>No payment from a multiple–party account may be made to the personal representative of a deceased party unless:</text> <level label="i"> <text>Proof is presented to the depository institution showing that the deceased party was the last surviving party; or</text> </level> <level label="ii"> <text>There is no right of survivorship under this section.</text> </level> </level> <level label="5"> <text>If there is no right of survivorship under this section, the depository institution may make payment from a multiple–party account to the personal representative of a deceased party without liability to:</text> <level label="i"> <text>Any other party; or</text> </level> <level label="ii"> <text>Any party’s heirs, personal representatives, or assigns.</text> </level> </level> <level label="6"> <text>No funds in an account shall belong to any convenience person by reason of that capacity.</text> </level> </level> <level label="e"> <level label="1"> <text>Each account agreement for a multiple–party account opened on or after October 1, 1993, shall contain a clear and conspicuous written statement specifying that unless contrary direction is given in the account agreement, upon the death of a party, the funds in the multiple–party account shall belong to the surviving party or parties.</text> </level> <level label="2"> <text>For multiple–party accounts opened on or after October 1, 1993, the depository institution shall give to the account party or parties:</text> <level label="i"> <text>A copy of the account agreement; or</text> </level> <level label="ii"> <text>A written notice identifying the type of account, the survivorship rights of the parties to the account, and the method by which the account party or parties can obtain a copy of the account agreement.</text> </level> </level> </level> <level label="f"> <text>Unless the account agreement expressly provides otherwise, the funds in a multiple–party account may be withdrawn by any party or by a convenience person for any party or parties, whether or not any other party to the account is incapacitated or deceased.</text> </level> <level label="g"> <text>A depository institution may presume that an account established by the parties as a trust account complies with the definitional requirements of a trust account as set forth in subsection (b) of this section unless, prior to the establishment of the account, the depository institution is provided with written notice to the contrary.</text> </level> <level label="h"> <text>Any written materials required by this section to be given to account parties:</text> <level label="1"> <text>Shall be deemed given if:</text> <level label="i"> <text>Delivered in person to any one of the account parties; or</text> </level> <level label="ii"> <text>Mailed to the account party or parties by first–class mail, postage prepaid, to the address for the account shown on the records of the depository institution; and</text> </level> </level> <level label="2"> <text>May be provided along with or as part of other materials given to account parties.</text> </level> </level> <level label="i"> <level label="1"> <text>A person who has an ownership interest in an account that is not a multiple–party account may designate another person as a convenience person on that account.</text> </level> <level label="2"> <text>No funds in the account shall belong to any convenience person by reason of that capacity.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-205" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Compliance review committee” means:</text> <level label="i"> <text>An audit, loan review, or compliance committee appointed by the board of directors of a depository institution; or</text> </level> <level label="ii"> <text>Any other person to the extent the person acts in an investigatory capacity at the direction of a compliance review committee.</text> </level> </level> <level label="3"> <text>“Compliance review documents” means documents prepared for or created by a compliance review committee.</text> </level> <level label="4"> <text>“Depository institution” means a State–chartered or federally chartered financial institution located in this State that is authorized to maintain deposit or share accounts.</text> </level> <level label="5"> <text>“Loan review committee” means a person or group of persons who, on behalf of a depository institution, reviews loans held by the institution for the purpose of assessing the credit quality of the loans, compliance with the institution’s loan policies, and compliance with applicable laws and regulations.</text> </level> <level label="6"> <text>“Person” means an individual, group of individuals, board, committee, partnership, firm, association, corporation, or other entity.</text> </level> </level> <level label="b"> <text>This section applies to a compliance review committee whose functions are to evaluate and seek to improve:</text> <level label="1"> <text>Loan underwriting standards;</text> </level> <level label="2"> <text>Asset quality;</text> </level> <level label="3"> <text>Financial reporting to federal or State regulatory agencies; or</text> </level> <level label="4"> <text>Compliance with federal or State statutory or regulatory requirements.</text> </level> </level> <level label="c"> <text>Except as provided in subsection (d) of this section:</text> <level label="1"> <text>Compliance review documents are confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee; and</text> </level> <level label="2"> <text>Compliance review documents delivered to a federal or State governmental agency remain confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee.</text> </level> </level> <level label="d"> <text>Subsection (c) of this section does not apply to any information required by statute or regulation to be maintained by or provided to a governmental agency while the information is in the possession of the governmental agency to the extent applicable law expressly authorizes its disclosure.</text> </level> <level label="e"> <text>This section may not be construed to limit the discovery or admissibility in any civil action of any documents that are not compliance review documents.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-206" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <text>In this section, “fiduciary deposit surety bond” means a surety bond that:</text> <level label="1"> <text>Guarantees the payment of deposited funds awaiting distribution or investment held by a financial institution in a fiduciary capacity; and</text> </level> <level label="2"> <text>Subject to the terms and conditions of the bond, is irrevocable and absolute.</text> </level> </level> <level label="b"> <text>Except as provided in §§ 6-202 and 6-209 of the State Finance and Procurement Article, if applicable law requires a deposit made by a financial institution to be collateralized, the financial institution may take as collateral for the deposit, in addition to any other permissible collateral, a fiduciary deposit surety bond issued by an insurance company authorized to do business in this State, the claims-paying ability of which is rated in the highest category by at least two nationally recognized statistical rating agencies.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-208" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <text>The directors and officers of a financial institution shall develop and implement written:</text> <level label="1"> <text>Policies governing real estate appraisal; and</text> </level> <level label="2"> <text>Procedures governing the hiring and performance of real estate appraisers.</text> </level> </level> <level label="b"> <text>The procedures required under subsection (a)(2) of this section shall set forth specific factors to be considered by the financial institution’s directors and officers, including:</text> <level label="1"> <text>Whether the appraiser is licensed or certified under the Business Occupations and Professions Article; and</text> </level> <level label="2"> <text>The real estate appraiser’s:</text> <level label="i"> <text>Professional education; and</text> </level> <level label="ii"> <text>Experience in real estate appraising.</text> </level> </level> </level> <level label="c"> <text>Prior to implementation, a financial institution shall submit its real estate appraisal policies and procedures to the Commissioner for review and approval.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-209" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <text>Only the State may enact a law which purports to regulate extensions of credit made by a financial institution.</text> </level> <level label="b"> <text>This section does not:</text> <level label="1"> <text>Affect federal law preemption of State law;</text> </level> <level label="2"> <text>Restrict or otherwise affect local laws that establish property ownership or the rights and obligations of property owners;</text> </level> <level label="3"> <text>Restrict or otherwise affect a local government’s ability to regulate its fiscal, economic, or community development policy;</text> </level> <level label="4"> <text>Restrict or otherwise affect a local government’s ability to enact laws or adopt regulations relating to fair housing or other civil rights; or</text> </level> <level label="5"> <text>Restrict or otherwise affect a local government’s ability to establish or administer loan programs to assist residents with financial needs.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-210" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Account agreement” means one or more written instruments that establish when a certificate of deposit is payable.</text> </level> <level label="3"> <text>“Certificate of deposit” means a deposit or share account at a depository institution that:</text> <level label="i"> <text>Is payable by the depository institution at the expiration of a specified time; and</text> </level> <level label="ii"> <text>May be transferable or nontransferable, negotiable or nonnegotiable, and renewable or nonrenewable.</text> </level> </level> <level label="4"> <text>“Depository institution” means a State-chartered or federally chartered financial institution located in the State that is authorized to maintain certificates of deposit.</text> </level> <level label="5"> <text>“Maturity date” means the time specified in an account agreement when a certificate of deposit is first payable, without taking into account any agreement regarding renewals.</text> </level> </level> <level label="b"> <text>Subject to subsection (c) of this section, an action to enforce the obligation of a depository institution to pay all or part of the balance of a certificate of deposit must be commenced by the earlier of:</text> <level label="1"> <text>The time that an action to enforce an obligation under § 3-118(e) of the Commercial Law Article must be commenced, if the certificate of deposit is subject to that section; or</text> </level> <level label="2"> <text>6 years after the later of:</text> <level label="i"> <text>The maturity date of the certificate of deposit;</text> </level> <level label="ii"> <text>The due date of the certificate of deposit indicated in the depository institution’s last written notice of renewal of the certificate of deposit, if any;</text> </level> <level label="iii"> <text>The date of the last written communication from the depository institution recognizing the depository institution’s obligation to pay the certificate of deposit; or</text> </level> <level label="iv"> <text>The last day of the taxable year for which a person identified in the certificate of deposit last reported interest income earned on the certificate of deposit on a federal or State income tax return.</text> </level> </level> </level> <level label="c"> <text>Notwithstanding subsection (b) of this section, an action to enforce the obligation of a depository institution to pay all or part of the balance of an automatically renewing certificate of deposit in existence on June 1, 2006, must be commenced by the later of:</text> <level label="1"> <text>6 years after the later of the events described in subsection (b)(2)(i) through (iv) of this section; or</text> </level> <level label="2"> <text>1 year after June 1, 2006.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-211" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Depository institution” means a financial institution that:</text> <level label="i"> <text>Is located in this State or maintains a branch in this State; and</text> </level> <level label="ii"> <text>Is authorized to maintain qualifying accounts.</text> </level> </level> <level label="3"> <text>“Eligible customer” means an individual who:</text> <level label="i"> <text>Maintains a qualifying account at a depository institution;</text> </level> <level label="ii"> <text>Is an adult; and</text> </level> <level label="iii"> <text>Is a resident of this State.</text> </level> </level> <level label="4"> <text>“Qualifying account” means a savings account, share account, or other savings product or program:</text> <level label="i"> <text>Offered by a depository institution;</text> </level> <level label="ii"> <text>Insured by the Federal Deposit Insurance Corporation, the National Credit Union Administration, or a credit union share guaranty corporation that is approved by the Commissioner; and</text> </level> <level label="iii"> <text>Through which eligible customers may obtain chances to win prizes in a savings promotion raffle.</text> </level> </level> <level label="5"> <text>“Savings promotion raffle” means a contest in which:</text> <level label="i"> <text>The sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a qualifying account; and</text> </level> <level label="ii"> <text>Each ticket or entry has an equal chance of being drawn.</text> </level> </level> </level> <level label="b"> <text>A depository institution may conduct a savings promotion raffle for the exclusive benefit of eligible customers if:</text> <level label="1"> <text>The depository institution maintains books and records relating to the savings promotion raffle; and</text> </level> <level label="2"> <text>The savings promotion raffle will not:</text> <level label="i"> <text>Harm the depository institution’s ability to operate in a safe and sound manner; or</text> </level> <level label="ii"> <text>Mislead the depository institution’s customers.</text> </level> </level> </level> <level label="c"> <text>Except as preempted by federal law, the Commissioner may:</text> <level label="1"> <text>Examine the conduct of a savings promotion raffle; and</text> </level> <level label="2"> <text>Issue a cease and desist order under § 5–808 of this article for a violation of this section.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-212" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <text>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.</text> </section> <section article="gfi" article_name="Financial Institutions" number="1-213" title_number="1" title_name="Definitions; General Provisions" subtitle_number="2" subtitle_name="General Provisions"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Credit union” has the meaning stated in § 6–101 of this article.</text> </level> <level label="3"> <text>“Savings and loan association” has the meaning stated in § 8–101 of this article.</text> </level> </level> <level label="b"> <text>This section applies only to:</text> <level label="1"> <text>A banking institution;</text> </level> <level label="2"> <text>A credit union;</text> </level> <level label="3"> <text>A savings and loan association;</text> </level> <level label="4"> <text>A community development financial institution; and</text> </level> <level label="5"> <text>A credit grantor regulated under Title 11 of this article.</text> </level> </level> <level label="c"> <text>When evaluating an application for a primary residential mortgage loan or an extension of credit, an entity subject to this section shall:</text> <level label="1"> <text>Adhere to the rules concerning evaluations of applications established under 12 C.F.R. § 1002.6, including consideration of the following verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant:</text> <level label="i"> <text>History of rent or mortgage payments;</text> </level> <level label="ii"> <text>History of utility payments;</text> </level> <level label="iii"> <text>School attendance; and</text> </level> <level label="iv"> <text>Work attendance; and</text> </level> </level> <level label="2"> <text>If the applicant requests, consider other verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-301" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <level label="a"> <text>In this subtitle the following words have the meanings indicated.</text> </level> <level label="b"> <level label="1"> <text>“Fiduciary institution” means:</text> <level label="i"> <text>A national banking association;</text> </level> <level label="ii"> <text>A banking institution;</text> </level> <level label="iii"> <text>An other–state bank that maintains a branch in this State;</text> </level> <level label="iv"> <text>A credit union that is organized under the laws of this State or of the United States;</text> </level> <level label="v"> <text>Any other organization that is organized under the banking laws of this State and subject to the supervision of the Commissioner; or</text> </level> <level label="vi"> <text>A savings and loan association that is organized under the laws of this State or of the United States.</text> </level> </level> <level label="2"> <text>“Fiduciary institution” does not include any person licensed by the Commissioner under Title 11 of this article.</text> </level> </level> <level label="c"> <level label="1"> <text>“Financial record” means the original or any copy or record of:</text> <level label="i"> <text>A document that grants signature authority over a deposit or share account;</text> </level> <level label="ii"> <text>A statement, ledger card, or other record of a deposit or share account that shows transactions in or with respect to that deposit or account;</text> </level> <level label="iii"> <text>A check, clear draft, or money order that is drawn on a fiduciary institution or issued and payable by or through a fiduciary institution;</text> </level> <level label="iv"> <text>Any item, other than an institutional or periodic charge, that is made under an agreement between a fiduciary institution and another person and that constitutes a debit or a credit to that person’s deposit or share account; or</text> </level> <level label="v"> <text>Any information that relates to a loan account or an application for a loan.</text> </level> </level> <level label="2"> <text>“Financial record” includes any evidence of a transaction conducted by means of an electronic terminal.</text> </level> </level> <level label="d"> <text>“Supervisory agency” means:</text> <level label="1"> <text>The Federal Deposit Insurance Corporation;</text> </level> <level label="2"> <text>The Federal Savings and Loan Insurance Corporation;</text> </level> <level label="3"> <text>The Federal Home Loan Bank Board;</text> </level> <level label="4"> <text>The National Credit Union Administration;</text> </level> <level label="5"> <text>The Federal Reserve Board;</text> </level> <level label="6"> <text>The United States Comptroller of the Currency;</text> </level> <level label="7"> <text>The State of Maryland Deposit Insurance Fund Corporation;</text> </level> <level label="8"> <text>The Credit Union Insurance Corporation;</text> </level> <level label="9"> <text>The Commissioner;</text> </level> <level label="10"> <text>The Division of Savings and Loan Associations; or</text> </level> <level label="11"> <text>An agency of another state with primary responsibility for chartering and supervising banks.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-302" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <text>Except as otherwise expressly provided in this subtitle, a fiduciary institution, its officers, employees, agents, and directors:</text> <level label="1"> <text>May not disclose to any person any financial record relating to a customer of the institution unless:</text> <level label="i"> <text>The customer has authorized the disclosure to that person;</text> </level> <level label="ii"> <text>Proceedings have been instituted for appointment of a guardian of the property or of the person of the customer, and court–appointed counsel presents to the fiduciary institution an order of appointment or a certified copy of the order issued by or under the direction or supervision of the court or an officer of the court;</text> </level> <level label="iii"> <text>The customer is disabled and a guardian is appointed or qualified by a court, and the guardian presents to the fiduciary institution an order of appointment or a certified copy of the order issued by or under the direction or supervision of the court or an officer of the court;</text> </level> <level label="iv"> <text>The customer is deceased and a personal representative is appointed or qualified by a court, and the personal representative presents to the fiduciary institution letters of administration issued by or under the direction or supervision of the court or an officer of the court;</text> </level> <level label="v"> <text>The Department of Human Services requests the financial record in the course of verifying the individual’s eligibility for public assistance;</text> </level> <level label="vi"> <text>The institution received a request for the customer’s information directly from an adult protective services program in a local department of social services that, under Title 14 of the Family Law Article, is investigating suspected financial abuse or financial exploitation of the customer;</text> </level> <level label="vii"> <text>The institution received a request, notice, or subpoena for information directly from the Child Support Administration of the Department of Human Services under § 10–108.2, § 10–108.3, or § 10–108.5 of the Family Law Article or indirectly through the Federal Parent Locator Service under 42 U.S.C. § 666(a)(17); or</text> </level> <level label="viii"> <text>The institution received a request, notice, or subpoena for information directly from the Comptroller under § 13–804 or § 13–812 of the Tax – General Article;</text> </level> </level> <level label="2"> <text>Shall disclose any information requested in writing by the Department of Human Services relative to money held in a savings deposit, time deposit, demand deposit, or any other deposit held by the fiduciary institution in the name of the individual who is a recipient or applicant for public assistance;</text> </level> <level label="3"> <text>Shall disclose any information from a specified period of time that is requested in writing by an adult protective services program in a local department of social services relative to any deposit account, loan, or other financial service provided by the fiduciary institution to an individual who is being investigated under Title 14 of the Family Law Article as a suspected victim of financial abuse or financial exploitation; and</text> </level> <level label="4"> <text>Shall disclose any information requested in writing by the Comptroller relative to money held in a savings deposit, time deposit, demand deposit, or any other deposit held by the fiduciary institution in the name of an individual whose property is subject to a tax lien.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-303" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <text>This subtitle does not prohibit:</text> <level label="1"> <text>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;</text> </level> <level label="2"> <text>The examination of financial records by a certified public accountant while engaged by a fiduciary institution to perform an independent audit;</text> </level> <level label="3"> <text>The examination of financial records by, or the disclosure of financial records to, any officer, employee, or agent of a supervisory agency for use only in the exercise of that person’s duties as an officer, employee, or agent;</text> </level> <level label="4"> <text>The publication of information derived from financial records if the information cannot be identified to any particular customer, deposit, or account;</text> </level> <level label="5"> <text>The making of reports or returns required or permitted by federal or State law;</text> </level> <level label="6"> <text>The disclosure of any information permitted to be disclosed under those provisions of the Commercial Law Article that relate to the dishonor of a negotiable instrument;</text> </level> <level label="7"> <text>The exchange, in the regular course of business, of credit information between a fiduciary institution and any other fiduciary institution or commercial enterprise, if made directly or through a consumer reporting agency;</text> </level> <level label="8"> <text>The exchange, in the regular course of business, of a statement of a mortgage account on the subject property in connection with a sale, refinancing, or foreclosure, of real property; or the disclosure, in the regular course of business, of a statement of a mortgage account on the subject property to the holder of any subordinate mortgage or security interest;</text> </level> <level label="9"> <text>The disclosure to a State’s Attorney of any information in accordance with § 8–104(c) of the Criminal Law Article (regarding the presentation of a certificate under oath to prove insufficient funds and dishonor of checks);</text> </level> <level label="10"> <text>A fiduciary institution from disclosing to the Department of Human Services an individual’s financial records that the Department determines are necessary to verify or confirm the individual’s eligibility or ineligibility for public assistance;</text> </level> <level label="11"> <text>In a prosecution outside the State for the crime of obtaining property or services by bad check, the presentation to the prosecutor of a certificate under oath by an authorized representative of a drawee that declares the dishonor of the check by the drawee, the lack of an account with the drawee at the time of utterance, or the insufficiency of the drawer’s funds at the time of presentation and utterance;</text> </level> <level label="12"> <text>The disclosure of the financial records of one of its customers by a fiduciary institution to an affiliate that extends credit for the sole purpose of evaluating a requested or existing extension of credit to that customer by an affiliate of the fiduciary institution; or</text> </level> <level label="13"> <text>A fiduciary institution from disclosing to the Comptroller an individual’s financial records that the Comptroller determines are necessary to enforce the tax laws of the State.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-304" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <level label="a"> <text>In this section, “subpoena” means a subpoena, summons, warrant, or court order that appears on its face to have been issued on lawful authority.</text> </level> <level label="b"> <text>A fiduciary institution may disclose or produce financial records or information derived from financial records in compliance with a subpoena served on the fiduciary institution, if:</text> <level label="1"> <text>The subpoena contains a certification that a copy of the subpoena has been served on the person whose records are sought by the party seeking the disclosure or production of the records; or</text> </level> <level label="2"> <text>Contains a certification that service has been waived by the court for good cause.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-305" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <level label="a"> <text>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.</text> </level> <level label="b"> <text>Any person who knowingly and willfully induces or attempts to induce an officer, employee, agent, or director of a fiduciary institution to disclose 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.</text> </level> <level label="c"> <level label="1"> <text>Subsections (a) and (b) of this section do not apply in connection with an abuse report required under § 1–306(d) of this subtitle.</text> </level> <level label="2"> <text>A fiduciary institution that fails to file an abuse report concerning an elder adult as required under § 1–306(d) of this subtitle is subject to:</text> <level label="i"> <text>A civil penalty not exceeding $1,000; or</text> </level> <level label="ii"> <text>If the failure to report is willful, a civil penalty not exceeding $5,000.</text> </level> </level> <level label="3"> <text>The civil penalties provided under paragraph (2) of this subsection:</text> <level label="i"> <text>May be recovered only in a civil action brought by the Attorney General against the fiduciary institution; and</text> </level> <level label="ii"> <text>Shall be paid by the fiduciary institution.</text> </level> </level> <level label="4"> <text>A person who discloses information contained in an abuse report in violation of § 1–306(d)(4) of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-306" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Abuse report” means the report required under subsection (d) of this section.</text> </level> <level label="3"> <text>“Elder adult” means an individual who is believed to be:</text> <level label="i"> <text>At least 65 years old; and</text> </level> <level label="ii"> <text>Residing in the State.</text> </level> </level> <level label="4"> <text>“Financial abuse” means to take, appropriate, obtain, or retain, or assist in taking, appropriating, obtaining, or retaining, real or personal property of an elder adult by any means, including undue influence, for a wrongful purpose or with intent to defraud the elder adult.</text> </level> <level label="5"> <text>“Financial exploitation” means any action which involves the misuse of a customer’s funds or property.</text> </level> <level label="6"> <text>“Report of financial exploitation” means an oral or written report concerning financial exploitation which may include all or part of the information described in § 14–302(d) of the Family Law Article.</text> </level> </level> <level label="b"> <text>Notwithstanding any other provision of law, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may disclose financial records and any other information relating to a customer of the fiduciary institution if the fiduciary institution or its officer, employee, agent, or director:</text> <level label="1"> <text>Believes that the customer has been subjected to financial exploitation; and</text> </level> <level label="2"> <text>Makes the disclosure in a report of financial exploitation to the adult protective services program in a local department of social services.</text> </level> </level> <level label="c"> <text>A report of financial exploitation filed under this section by a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution shall be deemed to protect against or prevent actual or potential fraud, unauthorized transactions, or other liability.</text> </level> <level label="d"> <level label="1"> <text>Notwithstanding any other law limiting or prohibiting disclosure, a fiduciary institution shall make an abuse report as provided in this subsection if an employee of the fiduciary institution, while acting within the scope of the employee’s employment:</text> <level label="i"> <text>Has direct contact with an elder adult or reviews or approves an elder adult’s financial documents, records, or transactions in connection with financial services provided by the fiduciary institution to or for the elder adult; and</text> </level> <level label="ii"> <text>Observes or obtains knowledge of behavior or unusual circumstances or transactions that leads the employee to know or have reasonable cause to suspect that the elder adult is the victim of financial abuse.</text> </level> </level> <level label="2"> <text>The abuse report required under paragraph (1) of this subsection shall be made:</text> <level label="i"> <level label="1"> <text>To the adult protective services agency in a local department of social services, the local law enforcement agency, or a State’s Attorney; or</text> </level> <level label="2"> <text>If the employee knows that the elder adult resides in a long–term care facility located in the State, to an ombudsman for the long–term care facility, the local law enforcement agency, or a State’s Attorney; and</text> </level> </level> <level label="ii"> <level label="1"> <text>By telephone notification within 24 hours after the employee knows or has reasonable cause to suspect that the elder adult is the victim of financial abuse; and</text> </level> <level label="2"> <text>In writing sent within 3 business days after the employee knows or has reasonable cause to suspect that the elder adult is the victim of financial abuse.</text> </level> </level> </level> <level label="3"> <text>A fiduciary institution is not required to:</text> <level label="i"> <text>Investigate an allegation by an elder adult that financial abuse of the elder adult has occurred; or</text> </level> <level label="ii"> <text>Make an abuse report under this subsection if the same matter already has been reported as required under this subsection.</text> </level> </level> <level label="4"> <text>Subject to paragraph (5) of this subsection, an abuse report made under this subsection is confidential and the information contained in the abuse report may be disclosed only:</text> <level label="i"> <text>In connection with an investigation of the suspected financial abuse, to:</text> <level label="1"> <text>An adult protective services agency;</text> </level> <level label="2"> <text>A long–term care ombudsman;</text> </level> <level label="3"> <text>A law enforcement agency; and</text> </level> <level label="4"> <text>The office of the Attorney General or of a State’s Attorney; or</text> </level> </level> <level label="ii"> <text>As authorized by the elder adult or the legal guardian of the elder adult.</text> </level> </level> <level label="5"> <text>Paragraph (4) of this subsection may not be construed to:</text> <level label="i"> <text>Allow the disclosure of an abuse report made under this subsection or a record relevant to the abuse report if the disclosure would be prohibited by any other provision of State or federal law; or</text> </level> <level label="ii"> <text>Prohibit the disclosure by a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution of an abuse report made under this subsection or a record relevant to the abuse report if the disclosure would be required by another State law, federal law, or court order.</text> </level> </level> <level label="6"> <text>This subsection does not prohibit or limit the disclosure of financial records otherwise permitted under this subtitle.</text> </level> <level label="7"> <text>A fiduciary institution shall establish and implement a training program to:</text> <level label="i"> <text>Assist employees in recognizing signs of potential financial abuse of an elder adult, such as unusual activity in an elder adult’s deposit accounts, automated teller machine (ATM) withdrawals by an elder adult who previously never used an ATM or debit card, and suspicious signatures on checks; and</text> </level> <level label="ii"> <text>Inform employees about the requirement to file abuse reports as provided under this subsection.</text> </level> </level> </level> <level label="e"> <level label="1"> <text>Except as provided in paragraph (2) of this subsection, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may decline to provide to any person information that would disclose or indicate whether a report of financial exploitation or an abuse report has or has not been filed under this section.</text> </level> <level label="2"> <text>A fiduciary institution or an officer, employee, agent, or director of a fiduciary institution may not decline to provide information requested by a person identified in subsection (d)(4)(i) of this section in connection with an investigation of suspected financial abuse or financial exploitation.</text> </level> </level> <level label="f"> <text>Except as provided in § 1–305(c) of this subtitle, there shall be no liability on the part of and no cause of action of any nature shall arise against, and there shall be immunity from any civil and criminal liability that would otherwise result for, a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution for an action or omission involved with:</text> <level label="1"> <text>Making or participating in making a disclosure or report under this section;</text> </level> <level label="2"> <text>Participating in an investigation or a judicial proceeding resulting from a report filed under this section; or</text> </level> <level label="3"> <text>Declining to provide information as described in subsection (e) of this section.</text> </level> </level> <level label="g"> <text>Except as required under subsection (d) of this section, this section does not create and may not be construed as creating, on the part of a fiduciary institution or an officer, employee, agent, or director of a fiduciary institution, a duty to make a disclosure to an adult protective services program or file a report of financial exploitation under this section.</text> </level> <level label="h"> <text>Notwithstanding any other provision of law, at the request of the fiduciary institution, an adult protective services agency or a law enforcement agency may, and is encouraged to, disclose the status or final disposition of an investigation of suspected financial abuse or financial exploitation to a fiduciary institution that made the report of suspected financial abuse or financial exploitation.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-307" title_number="1" title_name="Definitions; General Provisions" subtitle_number="3" subtitle_name="Confidential Financial Records"> <level label="a"> <level label="1"> <text>In this section the following words have the meanings indicated.</text> </level> <level label="2"> <text>“Eligible adult” means an individual who resides in the State and is:</text> <level label="i"> <text>At least 65 years old; or</text> </level> <level label="ii"> <text>A vulnerable adult.</text> </level> </level> <level label="3"> <text>“Financial exploitation” means:</text> <level label="i"> <text>The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or property of an eligible adult; or</text> </level> <level label="ii"> <text>An act or omission by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:</text> <level label="1"> <text>Obtain control, through deception, intimidation, or undue influence, over the eligible adult’s money, assets, or property in order to deprive the eligible adult of the ownership, use, benefit, or possession of the money, assets, or property; or</text> </level> <level label="2"> <text>Convert money, assets, or property of the eligible adult in order to deprive the eligible adult of the ownership, use, benefit, or possession of the money, assets, or property.</text> </level> </level> </level> <level label="4"> <text>“Law enforcement agency” means a State, county, or municipal police department, bureau, or agency.</text> </level> <level label="5"> <text>“Trusted contact” means an individual who is:</text> <level label="i"> <text>A member of an eligible adult’s family, including a parent or guardian, a sibling, a spouse, or an adult child of an eligible adult, who a fiduciary institution reasonably believes is closely associated with the eligible adult;</text> </level> <level label="ii"> <text>Authorized to transact business on an account of an eligible adult or an account on which an eligible adult is a beneficiary, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult;</text> </level> <level label="iii"> <text>Legally responsible for managing the property or financial affairs of an eligible adult; or</text> </level> <level label="iv"> <text>Designated by an eligible adult as an individual that a fiduciary institution may contact about the eligible adult.</text> </level> </level> <level label="6"> <text>“Vulnerable adult” has the meaning stated in § 14–101 of the Family Law Article.</text> </level> </level> <level label="b"> <level label="1"> <text>A fiduciary institution may delay or deny a disbursement from an account of an eligible adult or an account on which an eligible adult is a beneficiary if:</text> <level label="i"> <text>The fiduciary institution reasonably believes that the requested disbursement may result in the financial exploitation of the eligible adult; and</text> </level> <level label="ii"> <text>Within 4 business days after the date on which the disbursement is requested, the fiduciary institution:</text> <level label="1"> <text>Sends written notice of the reason for the delay or the denial to all parties authorized to transact business on the account; and</text> </level> <level label="2"> <text>Notifies the adult protective services program in a local department of social services, a law enforcement agency, or a State’s Attorney.</text> </level> </level> </level> <level label="2"> <text>A fiduciary institution:</text> <level label="i"> <text>May not send the written notice required under paragraph (1) of this subsection to a party the fiduciary institution reasonably believes or suspects is engaging in or is attempting to engage in the financial exploitation of the eligible adult; and</text> </level> <level label="ii"> <text>On request, shall provide a status update on any disbursement delay or denial to the adult protective services program in a local department of social services, a law enforcement agency, or a State’s Attorney.</text> </level> </level> </level> <level label="c"> <level label="1"> <text>A delay of a disbursement authorized under this section shall expire:</text> <level label="i"> <text>On a determination by the fiduciary institution that the disbursement will not result in the financial exploitation of the eligible adult; or</text> </level> <level label="ii"> <text>Subject to paragraphs (2) and (3) of this subsection, 15 business days after the date on which the fiduciary institution receives the disbursement request.</text> </level> </level> <level label="2"> <level label="i"> <text>Subject to subparagraph (ii) of this paragraph, the adult protective services program in a local department of social services, a law enforcement agency, or a State’s Attorney may request the delay of a disbursement for up to 25 business days after the date on which the fiduciary institution receives the disbursement request.</text> </level> <level label="ii"> <text>The adult protective services program in the local department of social services, the law enforcement agency, the State’s Attorney, or a court of competent jurisdiction may issue an order that terminates or extends the delay.</text> </level> </level> <level label="3"> <text>If the fiduciary institution has not received a request under paragraph (2) of this subsection, the fiduciary institution may extend the delay of a disbursement for up to 25 business days after the date on which the fiduciary institution receives the disbursement request.</text> </level> </level> <level label="d"> <level label="1"> <text>A fiduciary institution shall provide access to or copies of financial records that are relevant to the suspected financial exploitation of an eligible adult:</text> <level label="i"> <text>As part of a referral to the adult protective services program in a local department of social services, a law enforcement agency, or a State’s Attorney under subsection (b) of this section; or</text> </level> <level label="ii"> <text>On request of the adult protective services program in a local department of social services, a law enforcement agency, or a State’s Attorney.</text> </level> </level> <level label="2"> <text>The financial records under paragraph (1) of this subsection may include historical records and records that relate to the most recent transactions that may demonstrate the financial exploitation of an eligible adult.</text> </level> <level label="3"> <text>A financial record made available under this subsection is not a public record under Title 4 of the General Provisions Article.</text> </level> </level> <level label="e"> <level label="1"> <text>In addition to the notice required under subsection (b)(1) of this section, a fiduciary institution that reasonably believes that a requested disbursement from an account of an eligible adult may result in the financial exploitation of the eligible adult may notify the eligible adult’s trusted contact, unless the fiduciary institution reasonably believes or suspects the trusted contact is engaging in or is attempting to engage in the financial exploitation of the eligible adult.</text> </level> <level label="2"> <text>A fiduciary institution may limit notice provided under paragraph (1) of this subsection to disclosing the fiduciary institution’s reasonable belief that the eligible adult may be a victim or target of financial exploitation.</text> </level> </level> <level label="f"> <text>A fiduciary institution acting in good faith and exercising reasonable care shall have immunity from any administrative or civil liability that might otherwise arise from:</text> <level label="1"> <text>The provision of a notice under subsection (b) or (e) of this section; and</text> </level> <level label="2"> <text>A delay or denial of a disbursement under subsection (b) of this section.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-401" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>In this subtitle the following words have the meanings indicated.</text> </level> <level label="b"> <level label="1"> <text>“Access area” means any paved walkway or sidewalk which is within 50 feet of an automated teller machine.</text> </level> <level label="2"> <text>“Access area” does not include any publicly maintained street or highway or any adjacent sidewalk.</text> </level> </level> <level label="c"> <text>“Access device” has the meaning stated in Federal Reserve Board Regulation E, 12 C.F.R., Part 205.</text> </level> <level label="d"> <level label="1"> <text>“Automated teller machine” means any electronic information processing device located in this State which accepts or dispenses cash in connection with a credit, deposit, or convenience account.</text> </level> <level label="2"> <text>“Automated teller machine” does not include devices used:</text> <level label="i"> <text>Solely to facilitate check guarantees or check authorizations;</text> </level> <level label="ii"> <text>In connection with the acceptance or dispensing of cash on a person-to-person basis, including by a store cashier; or</text> </level> <level label="iii"> <text>For the payment of goods or services.</text> </level> </level> </level> <level label="e"> <text>“Candlefoot power” means the light intensity of candles on a horizontal plane at 36 inches above ground level and 5 feet in front of the area to be measured.</text> </level> <level label="f"> <text>“Control” of an access area or defined parking area means to have the present authority to determine how, when, and by whom such area is to be used, maintained, lighted, and landscaped.</text> </level> <level label="g"> <text>“Customer” means an individual to whom an access device has been issued for personal, family, or household use.</text> </level> <level label="h"> <level label="1"> <text>“Defined parking area” means that portion of a parking area open for customer parking which is:</text> <level label="i"> <text>Contiguous to an access area with respect to an automated teller machine;</text> </level> <level label="ii"> <text>Regularly, principally, and lawfully used for parking by users of the automated teller machine while conducting automated teller machine transactions during the hours of darkness; and</text> </level> <level label="iii"> <text>Owned or controlled by the operator of the automated teller machine or by the party leasing the automated teller machine site to the operator.</text> </level> </level> <level label="2"> <text>“Defined parking area” includes only the single parking level of a multiple level parking area deemed by the operator of the automated teller machine to be the most directly accessible to users of the automated teller machine if the parking area otherwise satisfies the conditions contained in paragraph (1) of this subsection.</text> </level> <level label="3"> <text>“Defined parking area” does not include a parking area which is:</text> <level label="i"> <text>Not regularly used for parking by users of the automated teller machine who are conducting automated teller machine transactions during the hours of darkness; or</text> </level> <level label="ii"> <text>Physically closed to access or is marked by conspicuous signs indicating that it is closed.</text> </level> </level> </level> <level label="i"> <text>“Hours of darkness” means the period that begins 30 minutes after sunset and ends 30 minutes before sunrise.</text> </level> <level label="j"> <text>“Operator” means a financial institution or other person that operates an automated teller machine.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-402" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <level label="1"> <level label="i"> <text>This section does not apply to any person:</text> <level label="1"> <text>Whose primary function is to provide for the exchange, transfer, or dissemination of electronic fund transfer data; and</text> </level> <level label="2"> <text>That is not otherwise an operator or person who controls an access area or designated parking area.</text> </level> </level> <level label="ii"> <text>A person described in subparagraph (i) of this paragraph is not liable to a customer or user of an automated teller machine for any claim relating to:</text> <level label="1"> <text>Any provision of this section; or</text> </level> <level label="2"> <text>The use or attempted use of an automated teller machine.</text> </level> </level> </level> <level label="2"> <text>This section does not apply to an automated teller machine which is located:</text> <level label="i"> <text>Inside a building:</text> <level label="1"> <text>Unless the building is a freestanding installation which exists solely to provide an enclosure for the automated teller machine; or</text> </level> <level label="2"> <text>Except to the extent that a transaction can be conducted from outside the building; or</text> </level> </level> <level label="ii"> <text>In any area, including any access area, building, enclosed space, or parking area, which is not controlled by the operator.</text> </level> </level> </level> <level label="b"> <level label="1"> <text>An operator of an automated teller machine shall adopt procedures for evaluating the safety of the location of the automated teller machine before it is installed.</text> </level> <level label="2"> <text>The procedures shall include a consideration of:</text> <level label="i"> <text>The extent to which the lighting for the automated teller machine complies or will comply with the standards described in this section; and</text> </level> <level label="ii"> <text>The presence of landscaping, vegetation, or other obstructions in the area of the automated teller machine, the access area, and the defined parking area.</text> </level> </level> <level label="3"> <level label="i"> <text>The operator of an automated teller machine installed prior to January 1, 1995, shall adopt procedures for evaluating the safety of the location of the existing automated teller machine.</text> </level> <level label="ii"> <text>The procedures adopted under subparagraph (i) of this paragraph shall include a consideration of the facts identified in paragraph (2) of this subsection to the extent appropriate to existing locations.</text> </level> <level label="iii"> <text>This subsection does not impose a duty to relocate an automated teller machine or modify the landscaping, vegetation, or other obstructions in the area of an automated teller machine, access area, or defined parking area for an automated teller machine installed prior to January 1, 1995.</text> </level> </level> </level> <level label="c"> <level label="1"> <text>An operator of an automated teller machine shall provide during the hours of darkness lighting of at least 10 candlefoot power at the face of the automated teller machine and extending in an unobstructed direction outward 5 feet.</text> </level> <level label="2"> <text>An operator or, if different, the person who controls the access area or the defined parking area shall provide during the hours of darkness lighting of:</text> <level label="i"> <text>At least 2 candlefoot power within 50 feet from all unobstructed directions from the face of the automated teller machine;</text> </level> <level label="ii"> <text>At least 2 candlefoot power in that portion of the defined parking area within 60 feet of the automated teller machine; and</text> </level> <level label="iii"> <text>In the event the automated teller machine is located within 10 feet of a corner of the building and the automated teller machine is generally accessible from the adjacent side, at least 2 candlefoot power along the first 40 unobstructed feet of the adjacent side of the building.</text> </level> </level> <level label="3"> <text>The requirements of this subsection apply only to automated teller machines that are open for use by customers during the hours of darkness.</text> </level> </level> <level label="d"> <level label="1"> <text>At or before the time a customer is furnished with an access device, the issuer of the access device shall furnish to the customer a notice concerning basic safety precautions that customers should employ while using an automated teller machine during hours of darkness.</text> </level> <level label="2"> <text>The notice shall be furnished:</text> <level label="i"> <text>To each customer whose address for the account to which the access device relates is in this State; and</text> </level> <level label="ii"> <text>By personally delivering or mailing the notice to customers at their mailing addresses in this State.</text> </level> </level> <level label="3"> <level label="i"> <text>Only one notice need be furnished for each mailing address.</text> </level> <level label="ii"> <text>If access devices are furnished to more than one customer for a single account or set of accounts or on the basis of a single application or other request for access devices, only one notice need be furnished to satisfy this subsection’s notice requirement as to those customers.</text> </level> </level> <level label="4"> <text>The notice required by this subsection may be included with other disclosures related to the access device furnished to a customer, including any initial or periodic disclosure statement furnished under the Federal Electronic Fund Transfer Act.</text> </level> <level label="5"> <text>The issuer of an access device shall be deemed to be in compliance with the notice requirement of this subsection if the issuer advises the customer to:</text> <level label="i"> <text>Be aware of the customer’s surroundings when using an automated teller machine, particularly during the hours of darkness;</text> </level> <level label="ii"> <text>Be accompanied by another person when using an automated teller machine during the hours of darkness;</text> </level> <level label="iii"> <text>Refrain from displaying cash, place cash in a pocket as soon as a transaction is completed, and count cash in the safety of a locked enclosure such as a car or home;</text> </level> <level label="iv"> <text>Use another automated teller machine or return at a later time if anything suspicious is noticed;</text> </level> <level label="v"> <text>Cancel a transaction, place the access device in a pocket, and leave if anything suspicious is noticed when using an automated teller machine; and</text> </level> <level label="vi"> <text>Immediately report all crimes to the operator of the automated teller machine and to local law enforcement officials.</text> </level> </level> <level label="6"> <text>For an access device issued before January 1, 1995, compliance with the provisions of this subsection shall be optional unless:</text> <level label="i"> <text>A customer requests in writing that the notice required by this subsection be provided; or</text> </level> <level label="ii"> <text>The access device is reissued, renewed, or replaced on or after January 1, 1995.</text> </level> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-402.1" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>This section does not apply to an automated teller machine that is:</text> <level label="1"> <text>Located inside a building unless:</text> <level label="i"> <text>The building is a freestanding installation that exists solely to provide an enclosure for the automated teller machine; or</text> </level> <level label="ii"> <text>A user of the automated teller machine is able to conduct a transaction from outside the building; or</text> </level> </level> <level label="2"> <text>Operated by a financial institution, unless the automated teller machine is located at or within or attached to premises owned by or under the control of the financial institution.</text> </level> </level> <level label="b"> <text>Each operator of an automated teller machine subject to this section shall:</text> <level label="1"> <text>Install and maintain a video camera that views and records an image of a user as the user performs a transaction at the automated teller machine; and</text> </level> <level label="2"> <text>Preserve the recordings made by the video camera for at least 45 calendar days.</text> </level> </level> <level label="c"> <text>An operator of an automated teller machine subject to this section is not in violation of this section if a video camera required under subsection (b) of this section malfunctions due to a reason not within the operator’s control.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-403" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>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.</text> </level> <level label="b"> <level label="1"> <text>Except as provided in paragraph (2) of this subsection, at least 15 business days before commencing the installation of an automated teller machine, a banking institution or credit union shall submit to the Commissioner written notice of its intent to install the automated teller machine.</text> </level> <level label="2"> <text>No written notice of intent to install an automated teller machine is required if the automated teller machine is to be located at the principal office or a branch of a banking institution or credit union.</text> </level> </level> <level label="c"> <level label="1"> <text>An automated teller machine may receive and dispense money as instructed by a customer.</text> </level> <level label="2"> <text>A banking institution or credit union may verify by direct wire transmission or otherwise any transaction that is made by means of an automated teller machine.</text> </level> <level label="3"> <text>The Commissioner may adopt rules and regulations that are substantially similar to those rules and regulations of the Comptroller of the Currency for the operation and shared use of automated teller machines by national banking associations.</text> </level> </level> <level label="d"> <level label="1"> <text>If, after the Commissioner receives the notice required under subsection (b)(1) of this section or the automated teller machine is installed, any requirement of this section is not being met, or if the Commissioner determines that the operation of the automated teller machine is not consistent with safety and soundness and the security of the transactions, the Commissioner shall give the banking institution or credit union notice of the deficiency.</text> </level> <level label="2"> <text>On notice of deficiency, a banking institution or credit union shall stop using the automated teller machine.</text> </level> <level label="3"> <text>If the Commissioner determines that the deficiency has been corrected, the banking institution or credit union may resume use of the automated teller machine.</text> </level> </level> <level label="e"> <text>For purposes of this article, an automated teller machine is not a branch of a banking institution or credit union.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-404" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>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.</text> </level> <level label="b"> <level label="1"> <text>The operator may give the notice required under subsection (a) of this section by either:</text> <level label="i"> <text>Posting in a conspicuous place on or near the automated teller machine the amount of the fee; or</text> </level> <level label="ii"> <text>Listing the amount of the fee on the screen of the automated teller machine at the time the transaction is initiated.</text> </level> </level> <level label="2"> <text>If the operator gives the notice in the manner provided by paragraph (1)(ii) of this subsection, the person using the automated teller machine shall be provided with the opportunity to cancel the transaction without incurring any fee.</text> </level> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-405" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>“Foreign banking corporation” has the meaning stated in § 12-201(e) of this article.</text> </level> <level label="b"> <text>A foreign banking corporation may not have an automated teller machine in this State for any purpose unless:</text> <level label="1"> <text>The foreign banking corporation obtains from the Commissioner a permit for the automated teller machine; or</text> </level> <level label="2"> <text>The automated teller machine is authorized under:</text> <level label="i"> <text>The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 or other federal law; or</text> </level> <level label="ii"> <text>Title 5, Subtitle 9 or Subtitle 10 of this article.</text> </level> </level> </level> <level label="c"> <text>The process for obtaining a permit for the automated teller machine is as stated in §§ 12-208 and 12-209 of this article.</text> </level> </section> <section article="gfi" article_name="Financial Institutions" number="1-406" title_number="1" title_name="Definitions; General Provisions" subtitle_number="4" subtitle_name="Automated Teller Machines"> <level label="a"> <text>Only the State may enact a law regarding automated teller machines.</text> </level> <level label="b"> <text>This subtitle shall preempt any local law governing automated teller machines.</text> </level> </section>