Maryland § 5-1003
Full text of Maryland Maryland Code § 5-1003, with citation guidance and answers to common questions.
§ 5-1003.
(a) A banking institution or an out–of–state bank may establish a branch in this State by:
(1) Subject to subsection (b) of this section, opening a de novo branch;
(2) Purchasing an existing branch from a bank or an insured depository institution; or
(3) Converting former headquarters or retaining former branches following:
(i) The purchase of all or substantially all of the assets of a bank or an insured depository institution; or
(ii) A merger or a consolidation with a bank or an insured depository institution.
(b) An out–of–state bank may establish a de novo branch in this State under subsection (a)(1) of this section only if the home state of the out–of–state bank allows a banking institution to open a de novo branch in its state.
(c) A banking institution or an out–of–state bank may not establish or maintain a branch in this State on the premises or property of an affiliate if the affiliate engages in commercial activities.
Frequently Asked Questions About Maryland § 5-1003
What does Maryland Code § 5-1003 cover?
Section 5-1003 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 § 5-1003?
A common citation format is "Maryland Code § 5-1003" (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 § 5-1003 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.