2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 3-103 - Requirements and standards for exercise of fiduciary powers
§3-103.
(a) This section applies to a commercial bank that:
(1) Is not in the business of accepting deposits or retaining funds in a deposit account as defined in § 5-509 of this article; and
(2) Is not controlled by or under common control with a banking institution or a national banking association with its principal office located in this State.
(b) A commercial bank subject to this section shall operate in compliance with all requirements and standards for the exercise of fiduciary powers that are applicable under 12 C.F.R. Part 9 to a trust department of a State-chartered trust company that is in the business of accepting deposits or retaining funds in a deposit account as defined in § 5-509 of this article.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
