# Financial Institutions (GFI)

## Title 5. Banking Institutions -- General Provisions

### Subtitle 6. Reorganizations

#### Section 5-605

(a) Within a reasonable time after the Commissioner takes possession of a banking institution, the Commissioner, in the name of this State, shall petition an equity court in the county where the banking institution has its principal banking office to:

  (1) Take jurisdiction over the banking institution; and

  (2) Subject to subsection (b) of this section, appoint as receiver:

    (i) An examiner; or

    (ii) The Federal Deposit Insurance Corporation.

(b)

  (1) The Commissioner may petition for appointment of the Federal Deposit Insurance Corporation as receiver only of a banking institution that the Corporation insures.

  (2) Appointment of the Federal Deposit Insurance Corporation becomes effective when the Corporation files with the court and the court approves a certificate of acceptance.

(c) A receiver shall provide any bond that the court requires.

(d) If an examiner is appointed receiver, the examiner:

  (1) May not receive further compensation for services as receiver; but

  (2) Subject to order of the court, is entitled to reimbursement for expenses for legal and clerical help and travel.

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