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§ 5-101. Definitions

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2023

West's Annotated Code of Maryland
Financial Institutions
Title 5. Banking Institutions--General Provisions
Subtitle 1. Definitions (Refs & Annos)
Effective: July 1, 2023
MD Code, Financial Institutions, § 5-101
§ 5-101. Definitions
Currentness
In general
(a) In this title the following words have the meanings indicated.
CAMELS
(b) “CAMELS” means the composite rating adopted by the federal Financial Institutions Examination Council to evaluate the adequacy of capital, quality of assets, capability of management, quality and level of earnings, adequacy of liquidity, and sensitivity to market risk.
Capital stock
(c) “Capital stock” includes both common and preferred stock of a commercial bank.
Examiner
(d) “Examiner” means:
(1) The Commissioner; and
(2) An individual whom the Commissioner designates as examiner.
Federal banking authority
(e) “Federal banking authority” means, as the context requires:
(1) The Federal Deposit Insurance Corporation;
(2) The Federal Reserve Bank of Richmond; or
(3) Any other appropriate federal banking authority.
Nondepository trust company
(f) “Nondepository trust company” means a trust company that is not insured by the Federal Deposit Insurance Corporation.
Savings bank
(g) “Savings bank” means an institution that:
(1) Is incorporated under the laws of this State as a savings bank; and
(2) Engages only in the business of savings banking.
Trust company
(h) “Trust company” means an institution that is incorporated under the laws of this State as a trust company.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 2008, c. 89, § 1, eff. Oct. 1, 2008; Acts 2010, c. 457, § 1, eff. Oct. 1, 2010; Acts 2023, c. 432, § 1, eff. July 1, 2023; Acts 2023, c. 433, § 1, eff. July 1, 2023.
Formerly Art. 11, § 69.
MD Code, Financial Institutions, § 5-101, MD FIN INST § 5-101
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document