§ 3–802
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-802 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 8. Conversions and Voluntary Dissolutions
§ 3–802LinkCopy Citation
(a)
Any commercial bank may convert into a national banking association as provided by federal law.
(b)
When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert.
(c)
When the Comptroller of the Currency issues a certificate of authority to do business as a national banking association, the charter of the commercial bank terminates and the new national banking association shall:
(1)
Take all property of the commercial bank, subject to all of its liabilities that exist at the time of conversion;
(2)
Notify the Commissioner of the conversion and the taking of property; and
(3)
File with the Commissioner a copy of the certificate of authority issued by the Comptroller of the Currency.
(d)
The Commissioner shall file a copy of the certificate of authority with the State Department of Assessments and Taxation.