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§ 5-206. Filing of financial report

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 5. Banking Institutions--General Provisions
Subtitle 2. Examinations and Reports (Refs & Annos)
MD Code, Financial Institutions, § 5-206
§ 5-206. Filing of financial report
Currentness
Request of Commissioner
(a) At least twice a year, the Commissioner shall ask every banking institution to submit a financial report that shows in detail the assets and liabilities of the institution as of the close of the business day that the Commissioner specifies.
Forms and reports
(b) The Commissioner shall:
(1) Provide forms that conform as closely as practicable to the forms that the federal banking authorities use; or
(2) Accept from a banking institution a copy of a reasonably recent report that the institution submitted to a federal banking authority.
Submission of report
(c)(1) Within 30 days after a banking institution receives the request for a financial report, the institution shall submit the report.
(2) Each report shall be signed and verified by the president, vice president, cashier, or treasurer of the banking institution.
Electronic submission of reports
(d) Upon the written request of a banking institution, the Commissioner may permit the financial reports required by this section to be electronically submitted provided that:
(1) The appropriate federal banking authority has approved electronic submission of the report as satisfactory for its requirements;
(2) The report is submitted through a federally approved vendor; and
(3) The banking institution retains, for at least 2 years, a copy of the report, signed and verified by the president, vice president, cashier, or treasurer of the banking institution.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1984, c. 277; Acts 1996, c. 192, § 1, eff. Oct. 1, 1996; Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 1997, c. 189, § 1, eff. Oct. 1, 1997.
Formerly Art. 11, §§ 7, 73.
MD Code, Financial Institutions, § 5-206, MD FIN INST § 5-206
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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