§ 5-1003

Maryland § 5-1003

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 5

Text

(a) A banking institution or an out–of–state bank may establish a branch in this State by:

(1) Subject to subsection (b) of this section, opening a de novo branch;

(2) Purchasing an existing branch from a bank or an insured depository institution; or

(3) Converting former headquarters or retaining former branches following:

(i) The purchase of all or substantially all of the assets of a bank or an insured depository institution; or

(ii) A merger or a consolidation with a bank or an insured depository institution.

(b) An out–of–state bank may establish a de novo branch in this State under subsection (a)(1) of this section only if the home state of the out–of–state bank allows a banking institution to open a de novo branch in its state.

(c) A banking institution or an out–of–state bank may not establish or maintain a branch in this State on the premises or property of an affiliate if the affiliate engages in commercial activities.