§ 12–210

Statutes in effect as of October 1, 2026.

Md. Code Ann., Fin. Inst. § 12-210 (2026)

Title 12. Miscellaneous Institutions and Activities

Subtitle 2. Foreign Banks

(a)

A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3–year term as provided in this section.

(b)

Before its permit expires, the foreign banking corporation may renew the permit for additional 3–year terms if the foreign banking corporation:

(1)

At least 30 days before its permit expires submits to the Commissioner a renewal application on the form that the Commissioner requires; and

(2)

Meets the requirements for issuance of a permit under § 12–209 of this subtitle.

(c)

The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.