Maryland § 3-305
Full text of Maryland Maryland Code § 3-305, with citation guidance and answers to common questions.
§ 3-305.
(a) A reduction of the outstanding capital stock of a commercial bank:
(1) Is not valid unless approved by the Commissioner; and
(2) May not be made to an amount that is less than that required in § 3-209(b) of this title.
(b) The Commissioner shall base approval on a finding that the assets of the commercial bank remaining after the proposed reduction of its capital stock will be sufficient to pay all of the claims of existing creditors.
Frequently Asked Questions About Maryland § 3-305
What does Maryland Code § 3-305 cover?
Section 3-305 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 § 3-305?
A common citation format is "Maryland Code § 3-305" (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 § 3-305 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.