Home Table of Contents

§ 5-804. Restrictions relating to acceptance of deposits

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 5. Banking Institutions--General Provisions
Subtitle 8. Prohibited Activities; Penalties (Refs & Annos)
MD Code, Financial Institutions, § 5-804
§ 5-804. Restrictions relating to acceptance of deposits
Currentness
In general
(a) An officer or employee of a banking institution may not accept a deposit knowing that the institution is insolvent.
Fines and penalties
(b) An officer or employee who violates any provision of this section is guilty of a misdemeanor and on conviction is subject to imprisonment in the State Penitentiary for a period not exceeding 3 years.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1991, c. 371.
Formerly Art. 11, § 75.
MD Code, Financial Institutions, § 5-804, MD FIN INST § 5-804
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