Maryland § 3-209
Full text of Maryland Maryland Code § 3-209, with citation guidance and answers to common questions.
§ 3-209.
(a) (1) Before the 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 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) 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.
(c) Unless otherwise provided by law, the unimpaired capital and surplus of a commercial bank include its debt instruments issued under § 3–312 of this title.
Frequently Asked Questions About Maryland § 3-209
What does Maryland Code § 3-209 cover?
Section 3-209 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 3-209?
A common citation format is "Maryland Code § 3-209" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 3-209 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.