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§ 3-605. Personal property owned by commercial bank

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 6. Miscellaneous Regulations (Refs & Annos)
MD Code, Financial Institutions, § 3-605
§ 3-605. Personal property owned by commercial bank
Currentness
Leasehold interest in real property
(a) This section does not apply to a leasehold interest in real property.
Commercial bank as owner and lessor of personal property
(b) Subject to the rules and regulations of the Commissioner, a commercial bank may become the owner and lessor of personal property if:
(1) The personal property is acquired on the specific request of and for the use of a customer; and
(2) The investment of the commercial bank in personal property does not exceed:
(i) For any one customer, 10 percent of the unimpaired capital and surplus of the commercial bank; and
(ii) For all of its customers, the total of its unimpaired capital and surplus.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996.
Formerly Art. 11, §§ 31, 57.
MD Code, Financial Institutions, § 3-605, MD FIN INST § 3-605
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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