Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Any commercial bank may convert into a national banking association as provided by federal law.
(b) When a commercial bank applies to the Comptroller of the Currency for conversion into a national banking association, it shall file with the Commissioner a written notice of its intent to convert.
(c) When the Comptroller of the Currency issues a certificate of authority to do business as a national banking association, the charter of the commercial bank terminates and the new national banking association shall:
(1) Take all property of the commercial bank, subject to all of its liabilities that exist at the time of conversion;
(2) Notify the Commissioner of the conversion and the taking of property; and
(3) File with the Commissioner a copy of the certificate of authority issued by the Comptroller of the Currency.
(d) The Commissioner shall file a copy of the certificate of authority with the State Department of Assessments and Taxation.
Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 3-802 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-3-802/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)