Md. Code, Financial Institutions § 12-708
This is the official text of Md. Code, Financial Institutions § 12-708, 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.
§12–708.
Official statutory text
(a) The Commissioner, not more often than once per year, may impose annual assessments on each financial institution supervised and examined by the Commissioner under this subtitle, to cover the expense of supervising and examining that financial institution.
(b) (1) The Commissioner may assess each financial institution the sum of:
(i) $1,000; plus
(ii) 8 cents for each $1,000 of the assets of the financial institution over $1,000,000.
(2) The assessments shall be based on assets stated in the financial institution’s most recent financial report.
(c) The financial institution shall pay any assessment imposed under this section to the Commissioner on or before the February 1 after it is imposed.
(b) (1) The Commissioner may assess each financial institution the sum of:
(i) $1,000; plus
(ii) 8 cents for each $1,000 of the assets of the financial institution over $1,000,000.
(2) The assessments shall be based on assets stated in the financial institution’s most recent financial report.
(c) The financial institution shall pay any assessment imposed under this section to the Commissioner on or before the February 1 after it is imposed.
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.