§ 3–206
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-206 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 2. Formation and Powers
§ 3–206LinkCopy Citation
(a)
Except as otherwise provided in this article, a commercial bank has all of the general powers granted to Maryland corporations under the Maryland General Corporation Law.
(b)
In addition to the powers set forth elsewhere in this article, a commercial bank may:
(1)
Receive deposits of money on which interest may be paid;
(2)
Buy and sell coin and bullion;
(3)
Buy and sell foreign and domestic exchange;
(4)
Subject to § 3–604 of this title, accept drafts drawn on it;
(5)
Issue letters of credit that authorize the holder to draw drafts on it or on its correspondents payable at sight or at a time not exceeding 1 year;
(6)
Issue its debt instruments for money that is borrowed or received on deposit or for investment;
(7)
Lend money on personal security or on real or personal property;
(8)
Subject to § 3–605 of this title, become owner and lessor of personal property;
(9)
Subject to § 5–503 of this article, buy, hold, lease, and convey real property;
(10)
Pledge collateral to secure deposits of:
(i)
The federal government or its agencies; or
(ii)
Any state or its political subdivisions;
(11)
Pledge securities to secure the money of an estate administered under the federal bankruptcy laws;
(12)
Without being deemed a branch of a depository institution affiliate, act in accordance with § 101(d) of the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994, as agent of any depository institution affiliate in:
(i)
Receiving deposits;
(ii)
Renewing time deposits;
(iii)
Closing loans;
(iv)
Servicing loans; or
(v)
Receiving payments on loans and other obligations; and
(13)
Exercise all of the powers usual in carrying on a banking business.