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Maryland Code, Financial Institutions § 12-805

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The Secretary may assess a civil penalty against any financial institution and any officer, employee, agent, or director of the institution for each knowing and willful violation of this subtitle.

(b)(1) The civil penalty may not exceed $50 for each day the violation continues.

(2) For purposes of this section, a separate violation occurs at each office, branch, or place of business where a violation occurs or continues.

(3) The total civil penalty may not exceed $1,000.

(c) In the event of the failure of any person to pay any penalty assessed under this section, a civil action for recovery of the penalty may be brought by the State against the person.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 12-805 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-12-805/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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