There is a newer version of the Maryland Code
Maryland Financial Institutions Section 3-304
§ 3-304.
  (a)   Except as necessary to prevent a loss on a loan previously made in good faith, a commercial bank may not:
    (1)   Make any loan secured by any of its outstanding capital stock; or
    (2)   Buy or hold any of its outstanding capital stock.
  (b)   If a commercial bank buys or holds any of its outstanding capital stock, the commercial bank shall sell the stock at public or private sale within:
    (1)   1 year after the date of acquisition; or
    (2)   Any longer period that the Commissioner authorizes.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.