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S.B. 171
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ROBERT L. EHRLICH, JR., Governor
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certain violation if the violation was committed by an affiliate of a certain
financial institution or an entity acquired by a certain financial institution;
requiring the Treasurer to consider whether a certain financial institution has
demonstrated that during a certain period the financial institution has met
certain criteria; and generally relating to the designation of a financial
institution as a depositary and an agreement with a financial institution for
banking services.
BY adding to
Article — State Finance and Procurement
Section 6-203
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
6-203.
(A) THE TREASURER SHALL GIVE 15% OF THE WEIGHT OF THE DECISION TO
THE STANDARDS ESTABLISHED IN THIS SECTION IN DECIDING WHETHER TO:
(1) DESIGNATE A FINANCIAL INSTITUTION AS A DEPOSITARY FOR STATE
MONEY UNDER § 6-205 OF THIS SUBTITLE; AND
(2) MAKE AN AGREEMENT WITH A FINANCIAL INSTITUTION FOR A
BANKING SERVICE UNDER § 6-229 OF THIS SUBTITLE.
(B) (1) THE TREASURER SHALL CONSIDER WHETHER THE FINANCIAL
INSTITUTION RECEIVED A RATING OF "NEEDS IMPROVEMENT" OR "SUBSTANTIAL
NONCOMPLIANCE" IN ITS MOST RECENT EXAMINATION UNDER THE FEDERAL
COMMUNITY REINVESTMENT ACT OF 1977, PL. NUMBER 95-128.
(2) IF A FINANCIAL INSTITUTION OPERATES IN A STATE OTHER THAN
MARYLAND, THE TREASURER SHALL CONSIDER MARYLAND-SPECIFIC INFORMATION
THAT IS PROVIDED WITHIN THE ASSESSMENT AREA SECTION OF THE COMMUNITY
REINVESTMENT ACT REPORT.
(C) (1) THE TREASURER SHALL CONSIDER WHETHER, DURING THE
PREVIOUS 5 YEARS, A COURT IN MARYLAND HAS FOUND, IN A FINAL ADJUDICATION,
THAT A FINANCIAL INSTITUTION HAS VIOLATED ANY ANTIDISCRIMINATION
STATUTE OR REGULATION.
(2) THE TREASURER MAY CONSIDER WHETHER, DURING THE PREVIOUS
5 YEARS, A COURT OUTSIDE MARYLAND HAS FOUND, IN A FINAL ADJUDICATION,
THAT A FINANCIAL INSTITUTION HAS VIOLATED ANY ANTIDISCRIMINATION
STATUTE OR REGULATION.
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- 2979 -
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