1336

LAWS OF MARYLAND

Ch. 109

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 commercial bank shall have required
capital stock that equals at least:

(i) $750,000, if it is in a municipal area
with [than] not more than 50,000 inhabitants; and

(ii) $1.5 million, if it is in a municipal
area with more than 50,000 inhabitants.

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

(b) (1) Before a commercial bank establishes a branch,
the commercial bank shall have capital stock and surplus as
provided in this subsection.

(2)  For a branch that is to be located inside
the municipal area of the principal banking office of the
commercial bank, the commercial bank shall have capital
stock and surplus that equal at least the SUM OF THE amounts
required by subsection (a) of this section.

(3)  For a branch that is to be located outside
the municipal area of the principal banking office of the
commercial bank, the commercial bank shall have capital
stock and surplus that equal at least the sum of:

(i) The amount required by subsection (a)
of this section; and

(ii)[ The amount that would be required
for the separate incorporation of the branch.] 1. $120,000,
IF IT IS IN A MUNICIPAL AREA WITH NOT MORE THAN 25,000
INHABITANTS;

2.  $180,000, IF IT IS IN A MUNICIPAL
AREA WITH MORE THAN 25,000 AND NOT MORE THAN 100,000
INHABITANTS;

3.  $240,000, IF IT IS IN A MUNICIPAL
AREA WITH MORE THAN 100,000 AND NOT MORE THAN 250,000
INHABITANTS; AND

4.  $900,000, IF IT IS IN A MUNICIPAL
AREA WITH MORE THAN 250,000 INHABITANTS.