Md. Code, Financial Institutions § 10-103.1
This is the official text of Md. Code, Financial Institutions § 10-103.1, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§10–103.
Official statutory text
§10–103.1.
(a) The function of the Board is advisory.
(b) The Board shall give the Fund Director sound and impartial advice on:
(1) The approval or disapproval of applications by a member association;
(2) The administration of the State of Maryland Deposit Insurance Fund;
(3) Protection of the interest of the general public and of depositors in member associations; and
(4) Any other matter concerning the business of member associations.
(c) If the Fund Director does not follow the advice of the Board, the Fund Director shall send to the Board and the Secretary a written statement of the reason for the action.
(a) The function of the Board is advisory.
(b) The Board shall give the Fund Director sound and impartial advice on:
(1) The approval or disapproval of applications by a member association;
(2) The administration of the State of Maryland Deposit Insurance Fund;
(3) Protection of the interest of the general public and of depositors in member associations; and
(4) Any other matter concerning the business of member associations.
(c) If the Fund Director does not follow the advice of the Board, the Fund Director shall send to the Board and the Secretary a written statement of the reason for the action.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.