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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 5-1003 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-5-1003/
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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