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2019 Maryland Code
Financial Institutions
Title 5 - Banking Institutions -- General Provisions
Subtitle 4 - Affiliates and Bank Service Corporations
§ 5-407. Bank service corporation -- Regulation
Universal Citation:
MD Fin Inst Code § 5-407 (2019)
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A banking institution may not permit any bank services to be performed for it, whether by contract or otherwise, unless the banking institution and the person performing the bank services give the Commissioner satisfactory assurances that the performance of the bank services will be subject to regulation and examination by the Commissioner to the same extent as if the banking institution itself were performing the bank services.
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