Maryland Financial Institutions Section 5-605

      (a)      Within a reasonable time after the Commissioner takes possession of a banking institution, the Commissioner, in the name of this State, shall petition an equity court in the county where the banking institution has its principal banking office to:

            (1)      Take jurisdiction over the banking institution; and

            (2)      Subject to subsection (b) of this section, appoint as receiver:

                  (i)      An examiner; or

                  (ii)      The Federal Deposit Insurance Corporation.

      (b)      (1)      The Commissioner may petition for appointment of the Federal Deposit Insurance Corporation as receiver only of a banking institution that the Corporation insures.

            (2)      Appointment of the Federal Deposit Insurance Corporation becomes effective when the Corporation files with the court and the court approves a certificate of acceptance.

      (c)      A receiver shall provide any bond that the court requires.

      (d)      If an examiner is appointed receiver, the examiner:

            (1)      May not receive further compensation for services as receiver; but

            (2)      Subject to order of the court, is entitled to reimbursement for expenses for legal and clerical help and travel.