Maryland § 5-808
Full text of Maryland Maryland Code § 5-808, with citation guidance and answers to common questions.
§ 5-808.
(a) The Commissioner may order any banking institution to cease and desist from:
(1) An unsafe or unsound banking practice;
(2) A practice that is injurious to the public interest; or
(3) A violation of a law, rule, or regulation that relates to the Commissioner’s supervision of the institution.
(b) To protect depositors, stockholders, or the public, the Commissioner may include in a cease and desist order a restriction on the withdrawal of money from any banking institution.
(c) The Commissioner may include in a cease and desist order a requirement that the officers or directors of a banking institution act affirmatively to correct any violation or practice.
(d) (1) Before a cease and desist order takes effect, the Commissioner shall give the banking institution an opportunity for a hearing.
(2) Notice of the hearing shall be given and the hearing shall be held in accordance with the Administrative Procedure Act.
(e) If the Commissioner determines that the violation or practice under subsection (a) of this section requires immediate action to protect depositors, stockholders, or the public, the Commissioner:
(1) May issue a cease and desist order that is effective on service; and
(2) Shall give the banking institution an opportunity for a hearing to rescind the order.
Frequently Asked Questions About Maryland § 5-808
What does Maryland Code § 5-808 cover?
Section 5-808 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 § 5-808?
A common citation format is "Maryland Code § 5-808" (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 § 5-808 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.