§ 3–305
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-305 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 3. Capital Stock; Surplus Requirements; Stockholders
§ 3–305LinkCopy Citation
(a)
A reduction of the outstanding capital stock of a commercial bank:
(1)
Is not valid unless approved by the Commissioner; and
(2)
May not be made to an amount that is less than that required in § 3-209(b) of this title.
(b)
The Commissioner shall base approval on a finding that the assets of the commercial bank remaining after the proposed reduction of its capital stock will be sufficient to pay all of the claims of existing creditors.