Md. Code Ann., Fin. Inst. § 12-210
Expiration and renewal of permit
Effective Jul 1, 2008Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 2008, c. 293, § 1, eff. July 1, 2008.State of Maryland
- (a) A permit expires on the third anniversary of its effective date, unless the permit is renewed for a 3-year term as provided in this section.
(b) Before its permit expires, the foreign banking corporation may renew the permit for additional 3-year terms if the foreign banking corporation:
- (1) At least 30 days before its permit expires submits to the Commissioner a renewal application on the form that the Commissioner requires; and
- (2) Meets the requirements for issuance of a permit under § 12-209 of this subtitle.
- (c) The Commissioner shall renew the permit of each foreign banking corporation that meets the requirements of this section.
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 2008, c. 293, § 1, eff. July 1, 2008.
Formerly Art. 11, § 32.