§ 3-803. Voluntary dissolution of commercial bank
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 3-803
§ 3-803. Voluntary dissolution of commercial bank
(a) A commercial bank may dissolve voluntarily, if the stockholders of the commercial bank and the Commissioner approve the dissolution as provided in this section.
(b) A proposed voluntary dissolution shall be approved by the affirmative vote of the stockholders of the commercial bank who own two thirds of its capital stock.
(c)(1) After a proposed voluntary dissolution is approved by the stockholders, the board of directors of the commercial bank shall give the following notices.
Credits
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996.
MD Code, Financial Institutions, § 3-803, MD FIN INST § 3-803
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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