# Financial Institutions (GFI)

## Title 5. Banking Institutions -- General Provisions

### Subtitle 6. Reorganizations

#### Section 5-602.1

(a) In this section, "insolvent" means:

  (1) Incapable of meeting the demands of creditors; or

  (2) Having liabilities that exceed assets.

(b) Notwithstanding the notice and timing requirements in Sec. 5-602 of this subtitle, if the Commissioner determines that a nondepository trust company is insolvent, the Commissioner may take immediate possession of the nondepository trust company, including its property, records, and business, by:

  (1) Posting on the front door of each banking office of the nondepository trust company a notice that states: "This institution is in the hands of the Maryland Commissioner of Financial Regulation"; and

  (2) Immediately delivering written notice to the board of directors of the nondepository trust company that the Commissioner has taken possession of the nondepository trust company.

---

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