§ 12-103. Banks, trust companies, savings banks, savings and loan associations, and credit unio...
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 12-103
§ 12-103. Banks, trust companies, savings banks, savings and loan associations, and credit unions
(a) This subtitle does not apply to:
(b) A subsidiary or affiliate of an institution described in subsection (a) of this section is exempt from all requirements of licensing under this subtitle provided the subsidiary or affiliate:
1. Owner who owns 5% or more of the subsidiary or affiliate; and
2. Officer, director, or principal of the subsidiary or affiliate;
2. If a mobile unit will be used to provide check cashing services, the vehicle identification number of the mobile unit and the geographic area in which the mobile unit will be operating; and
(c)(1) An exempt entity is not subject to the provisions of §§ 12-106 through 12-112, inclusive, and § 12-122 of this subtitle.
Credits
Added by Acts 2000, c. 614, § 2, eff. Oct. 1, 2000.
MD Code, Financial Institutions, § 12-103, MD FIN INST § 12-103
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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