§ 3–103
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-103 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 1. Definitions; General Provisions
§ 3–103LinkCopy Citation
(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 § 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 § 5-509 of this article.