There is a newer version of the Maryland Code
Maryland Financial Institutions Section 3-305
§ 3-305.
  (a)   A reduction of the outstanding capital stock of a commercial bank:
    (1)   Is not valid unless approved by the Commissioner; and
    (2)   May not be made to an amount that is less than that required in § 3-209(b) of this title.
  (b)   The Commissioner shall base approval on a finding that the assets of the commercial bank remaining after the proposed reduction of its capital stock will be sufficient to pay all of the claims of existing creditors.
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