Maryland § 5-206
Full text of Maryland Maryland Code § 5-206, with citation guidance and answers to common questions.
§ 5-206.
(a) At least twice a year, the Commissioner shall ask every banking institution to submit a financial report that shows in detail the assets and liabilities of the institution as of the close of the business day that the Commissioner specifies.
(b) The Commissioner shall:
(1) Provide forms that conform as closely as practicable to the forms that the federal banking authorities use; or
(2) Accept from a banking institution a copy of a reasonably recent report that the institution submitted to a federal banking authority.
(c) (1) Within 30 days after a banking institution receives the request for a financial report, the institution shall submit the report.
(2) Each report shall be signed and verified by the president, vice president, cashier, or treasurer of the banking institution.
(d) Upon the written request of a banking institution, the Commissioner may permit the financial reports required by this section to be electronically submitted provided that:
(1) The appropriate federal banking authority has approved electronic submission of the report as satisfactory for its requirements;
(2) The report is submitted through a federally approved vendor; and
(3) The banking institution retains, for at least 2 years, a copy of the report, signed and verified by the president, vice president, cashier, or treasurer of the banking institution.
Frequently Asked Questions About Maryland § 5-206
What does Maryland Code § 5-206 cover?
Section 5-206 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 § 5-206?
A common citation format is "Maryland Code § 5-206" (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 § 5-206 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.