Maryland § 3-301
Full text of Maryland Maryland Code § 3-301, with citation guidance and answers to common questions.
§ 3-301.
(a) A subscription for the original capital stock of a commercial bank shall conform, to the extent applicable, to the provisions of the Maryland General Corporation Law that relate to stock subscriptions.
(b) An increase in the outstanding capital stock of a commercial bank is not valid unless:
(1) The commercial bank has sufficient surplus so that after the increase in capital stock its surplus will equal at least 20 percent of its capital stock; or
(2) The amount of the increase is subscribed for and paid as required for subscription for original capital stock.
(c) (1) Each share of common stock is entitled to one vote.
(2) A stockholder may vote in person or by proxy the capital stock that the stockholder owns of record.
Frequently Asked Questions About Maryland § 3-301
What does Maryland Code § 3-301 cover?
Section 3-301 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 § 3-301?
A common citation format is "Maryland Code § 3-301" (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 § 3-301 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.