Maryland Banking Regulation: Commercial Bank Directors State Residency

Commercial banks in Maryland will soon have an added degree of latitude in selecting their directors. On April 18, 2017, Governor Hogan approved Maryland Senate Bill 206, Financial Institutions – Qualifications of Directors of Commercial Banks – Residency (the “Amendment”). The Amendment, which repeals and reenacts, with amendments, Section 3-403 of the Maryland Code, Financial Institutions Article,…

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