§ 2-113

Maryland § 2-113

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 2

Text

(a) In this section, “affiliate” has the meaning stated in § 5–401(b) of this article.

(b) Except as provided in subsection (d) of this section, the investigative and enforcement powers of the Commissioner authorized under this subtitle are in addition to any investigative or enforcement powers of the Commissioner authorized under any other provision of law.

(c) For fiscal year 2001 and each fiscal year thereafter, the Governor shall include in the annual budget bill an appropriation to the Office of Financial Regulation funding the positions necessary to implement the investigative and enforcement powers authorized under this subtitle.

(d) Except as provided in §§ 2–113.1 and 2–117 of this subtitle, the provisions of §§ 2–114 through 2–117, inclusive, of this subtitle do not apply to:

(1) Any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under the laws of this State or the United States that maintains its principal office in this State;

(2) Any out–of–state bank, as defined in § 5–1001 of this article, having a branch that accepts deposits in this State;

(3) Any institution incorporated under federal law as a savings association or savings bank that does not maintain its principal office in this State but has a branch that accepts deposits in this State; or

(4) An affiliate of an institution described in item (1), (2), or (3) of this subsection over which the Commissioner has no jurisdiction.