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§ 12-210. Expiration and renewal of permit

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2008

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 2. Foreign Banks (Refs & Annos)
Part III. Offices
Effective: July 1, 2008
MD Code, Financial Institutions, § 12-210
§ 12-210. Expiration and renewal of permit
Currentness
Expiration date
(a) A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3-year term as provided in this section.
Renewal of permit
(b) Before its permit expires, the foreign banking corporation may renew the permit for additional 3-year terms if the foreign banking corporation:
(1) At least 30 days before its permit expires submits to the Commissioner a renewal application on the form that the Commissioner requires; and
(2) Meets the requirements for issuance of a permit under § 12-209 of this subtitle.
Duty of Commissioner to renew permit of qualified foreign banking corporations
(c) The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.

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. 293, § 1, eff. July 1, 2008.
Formerly Art. 11, § 32.
MD Code, Financial Institutions, § 12-210, MD FIN INST § 12-210
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