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Can you summarize MDCM Fin. Inst., Title 5?
Financial Institutions
Short Summary
The provided legal document content covers various aspects related to financial institutions in Maryland. It includes definitions for terms used in Title 5 of the Code of Maryland related to Financial Institutions, such as ‘CAMELS’, ‘Capital stock’, ‘Examiner’, ‘Federal banking authority’, ‘Nondepository trust company’, ‘Savings bank’, and ‘Trust company’. The document also governs the examination and regulation of banking institutions, including the responsibilities of the Commissioner, submission of financial reports, and access to records. It further addresses requirements and obligations related to interest-bearing accounts, activities of affiliates of banking institutions, buying and holding of real property by banking institutions, taking possession of banking institutions and nondepository trust companies, closure of banking institutions on legal holidays, establishment of branches by banking institutions and out-of-state banks, and acquisition and conversion of savings and loan associations by out-of-state bank holding companies. These documents apply to individuals and entities involved in the financial industry, banking institutions, nondepository trust companies, customers with interest-bearing accounts, affiliates of banking institutions, bank holding companies, banks, out-of-state bank holding companies, and savings and loan associations. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Individuals and entities involved in the financial industry, banking institutions, nondepository trust companies, customers with interest-bearing accounts, affiliates of banking institutions, bank holding companies, banks, out-of-state bank holding companies, savings and loan associations.
What does it govern?
The legal document provides definitions for various terms used in Title 5 of the Code of Maryland related to Financial Institutions. It also governs the examination and regulation of banking institutions, requirements and obligations related to interest-bearing accounts, activities of affiliates of banking institutions, buying and holding of real property by banking institutions, taking possession of banking institutions and nondepository trust companies, closure of banking institutions on legal holidays, establishment of branches by banking institutions and out-of-state banks, acquisition and conversion of savings and loan associations by out-of-state bank holding companies.
What are exemptions?
Specific exemptions or penalties are not mentioned in these documents.
What are the Penalties?
Specific penalties are not mentioned in these documents.
Jurisdiction
Maryland