# Financial Institutions (GFI)

## Title 3. Banking Institutions -- Commercial Banks

### Subtitle 1. Definitions; General Provisions

#### Section 3-101

(a) In this title the following words have the meanings indicated.

(b) "Capital stock" includes both common and preferred stock of a commercial bank.

(c) "Debt instrument" means any capital note, debenture, bond, or certificate of beneficial interest issued by a commercial bank.

(d) "Inhabitants" means the population of a municipal area, as determined by the latest federal or State census.

(e) "Nondepository trust company" means a trust company that is not insured by the Federal Deposit Insurance Corporation.

(f) "State bank" means an institution that is incorporated under the laws of this State as a bank.

(g) "Trust company" means an institution that is incorporated under the laws of this State as a trust company.

#### Section 3-102

Every trust company has the powers granted by, and is subject to, the provisions of this article that relate to trust companies. However, except as provided in Sec. 3-209(b) of this title as to the establishment of branches, the provisions of this article do not repeal, modify, or affect any special right, privilege, or power given by charter to a trust company that was organized and doing business before April 8, 1910.

#### Section 3-103

(a) This section applies to a commercial bank that:

  (1) Is not in the business of accepting deposits or retaining funds in a deposit account as defined in Sec. 5-509 of this article; and

  (2) Is not controlled by or under common control with a banking institution or a national banking association with its principal office located in this State.

(b) A commercial bank subject to this section shall operate in compliance with all requirements and standards for the exercise of fiduciary powers that are applicable under 12 C.F.R. Part 9 to a trust department of a State-chartered trust company that is in the business of accepting deposits or retaining funds in a deposit account as defined in Sec. 5-509 of this article.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)