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Maryland Code, Financial Institutions § 3-605

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

(a) This section does not apply to a leasehold interest in real property.

(b) Subject to the rules and regulations of the Commissioner, a commercial bank may become the owner and lessor of personal property if:

(1) The personal property is acquired on the specific request of and for the use of a customer; and

(2) The investment of the commercial bank in personal property does not exceed:

(i) For any one customer, 10 percent of the unimpaired capital and surplus of the commercial bank; and

(ii) For all of its customers, the total of its unimpaired capital and surplus.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 3-605 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-3-605/

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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