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LAWS OF MARYLAND

Ch. 617

FOR the purpose of providing that the altering the minimum
amount of required capital stock for commercial banks
is that required by the Bank Commissioner by rule or
regulation; clarifying language; and generally relating
to minimum capital requirements for commercial banks.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 3-209, 3-305, 3-607(e), and 5-612(b)

Annotated Code of Maryland

(1980 Volume and 1980 Supplement)

BY repealing

Article - Financial Institutions

Section 3-210

Annotated Code of Maryland

(1980 Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Financial Institutions

3-209.

(a) (1) Before the Bank Commissioner issues a
certificate to do business, the required capital stock and
the required surplus shall be paid in full.

(2)  A [State] COMMERCIAL bank shall have
required capital stock that [equals at least:

(i) $25,000, if it is in a municipal area
with not more than 15,000 inhabitants;

(ii) $75,000 $750,000, if it is in a
municipal area with more 15,000 and not more than 50,000
inhabitants;

(iii) $100,000 if it is a municipal

area with more than 50,000 and not more than 150,000
inhabitants; and

(iv) $500,000 AND (II) $1.5 MILLION, if it

is in a municipal area with more than 150,000 inhabitants]
THE BANK COMMISSIONER REQUIRES BY RULE OR REGULATION 50,000
INHABITANTS.

(3)  A [State] COMMERCIAL bank shall have a
surplus in an amount that equals at least 20 percent of its
required capital stock.