154

LAWS OF MARYLAND

Ch. 33

appropriate recognition of the dictates of
federal lav and serves to avoid placing a
fiduciary institution in the untenable position
of having to choose between violating one law or
another.

The only other changes are in style.

As to item (7) of this section and the reference
to a "consumer reporting agency", see Title 14,
Subtitle 12 of the Commercial Law Article.

1-304. SAME — SUBPOENA.

(A)   "SUBPOENA" DEFINED.

IN THIS SECTION, "SUBPOENA" MEANS A SUBPOENA, SUMMONS,
WARRANT, OR COURT ORDER THAT APPEARS ON ITS FACE TO HAVE
BEEN ISSUED ON LAWFUL AUTHORITY.

(B)   DISCLOSURE PERMITTED.

A FIDUCIARY INSTITUTION MAY DISCLOSE FINANCIAL RECORDS
IN COMPLIANCE WITH A SUBPOENA, IF THE SUBPOENA IS SERVED ON
THE FIDUCIARY INSTITUTION AND, UNLESS WAIVED BY THE COURT
FOR GOOD CAUSE, ON THE CUSTOMER.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, § 226.

1-305. PENALTIES.

(A)   OFFICERS AND EMPLOYEES OF INSTITUTION.

ANY OFFICER OR EMPLOYEE OF A FIDUCIARY INSTITUTION WHO
KNOWINGLY AND WILLFULLY DISCLOSES FINANCIAL RECORDS IN
VIOLATION OF THIS SUBTITLE IS GUILTY OF A MISDEMEANOR AND ON
CONVICTION IS SUBJECT TO A FINE OF NOT MORE THAN $1,000.

(B)   OTHERS.

ANY PERSON WHO KNOWINGLY AND WILLFULLY INDUCES OR
ATTEMPTS TO INDUCE AN OFFICER OR EMPLOYEE OF A FIDUCIARY
INSTITUTION TO DISCLOSE FINANCIAL RECORDS IN VIOLATION OF
THIS SUBTITLE IS GUILTY OF A MISDEMEANOR AND ON CONVICTION
IS SUBJECT TO A FINE OF NOT MORE THAN $1,000.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, § 227.

Present references to officers and employees of a
"consumer reporting agency" are deleted as
nonsequential and meaningless. Neither § 1—302
or any other provision of this subtitle prohibits
a consumer reporting agency from disclosing
financial records; consequently, an officer or
employee of a consumer reporting agency cannot in