§ 5-802. Reporting requirements
West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2019
Effective: July 1, 2019
MD Code, Financial Institutions, § 5-802
§ 5-802. Reporting requirements
(a) If the Commissioner believes that a banking institution or any of its directors, officers, trustees, managers, agents, or employees has violated any provision of this article that relates to the institution, the Commissioner immediately shall report the violation to the Secretary of Labor, who shall ask the Attorney General to take the appropriate steps to institute a prosecution for the violation.
(b)(1) The Commissioner shall send a warning to a director or officer of a banking institution who the Commissioner believes has violated any provision of this article that relates to the institution.
(c) Unless another penalty specifically is provided elsewhere in this article, any banking institution and any director, officer, trustee, manager, agent, or employee of a banking institution who violates any provision of this article that relates to the institution is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both.
Credits
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1995, c. 120, § 19, eff. July 1, 1995; Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 2019, c. 8, § 5.
Formerly Art. 11, §§ 11, 18.
MD Code, Financial Institutions, § 5-802, MD FIN INST § 5-802
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.
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