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§ 12-705. Warnings sent to financial institution from Commissioner

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 7. Supervision and Examination of Tax Exempt Financial Institutions (Refs & Annos)
MD Code, Financial Institutions, § 12-705
§ 12-705. Warnings sent to financial institution from Commissioner
Currentness
Grounds for warning from Commissioner
(a) If the Commissioner believes that a financial institution supervised and examined under this subtitle has engaged in an unsafe or unsound banking practice, or has failed to comply with the law, the Commissioner shall send a warning to the financial institution.
Suspension or termination of supervision and examination
(b) If the Commissioner finds that the financial institution has continued to engage in the unsafe or unsound practice, or that the failure to comply with the law has continued, subject to the hearing provisions of § 12-706 of this subtitle, the Commissioner may suspend or terminate its supervision and examination of the financial institution.

Credits

Added by Acts 1987, c. 639, § 1, eff. July 1, 1987. Amended by Acts 1988, c. 6, § 1; Acts 1989, c. 567; Acts 1996, c. 326, § 2, eff. July 1, 1996.
MD Code, Financial Institutions, § 12-705, MD FIN INST § 12-705
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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