Md. Code, Financial Institutions § 3-209
This is the official text of Md. Code, Financial Institutions § 3-209, 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.
§3–209.
Official statutory text
(a) (1) Before the Commissioner issues a certificate to do business, the required capital stock and the required surplus shall be paid in full.
(2) A commercial bank shall have required capital stock that equals at least:
(i) $750,000, if it is in a municipal area with not more than 50,000 inhabitants; and
(ii) $1.5 million, if it is in a municipal area with more than 50,000 inhabitants.
(3) A commercial bank shall have a surplus in an amount that equals at least 20 percent of its required capital stock.
(b) (1) Before a commercial bank establishes a branch, the commercial bank shall have capital stock and surplus as provided in this subsection.
(2) For a branch that is to be located inside the municipal area of the principal banking office of the commercial bank, the commercial bank shall have capital stock and surplus that equal at least the sum of the amounts required by subsection (a) of this section.
(3) For a branch that is to be located outside the municipal area of the principal banking office of the commercial bank, the commercial bank shall have capital stock and surplus that equal at least the sum of:
(i) The amount required by subsection (a) of this section; and
(ii) 1. $120,000, if it is in a municipal area with not more than 25,000 inhabitants;
2. $180,000, if it is in a municipal area with more than 25,000 and not more than 100,000 inhabitants;
3. $240,000, if it is in a municipal area with more than 100,000 and not more than 250,000 inhabitants; and
4. $900,000, if it is in a municipal area with more than 250,000 inhabitants.
(c) Unless otherwise provided by law, the unimpaired capital and surplus of a commercial bank include its debt instruments issued under § 3–312 of this title.
(2) A commercial bank shall have required capital stock that equals at least:
(i) $750,000, if it is in a municipal area with not more than 50,000 inhabitants; and
(ii) $1.5 million, if it is in a municipal area with more than 50,000 inhabitants.
(3) A commercial bank shall have a surplus in an amount that equals at least 20 percent of its required capital stock.
(b) (1) Before a commercial bank establishes a branch, the commercial bank shall have capital stock and surplus as provided in this subsection.
(2) For a branch that is to be located inside the municipal area of the principal banking office of the commercial bank, the commercial bank shall have capital stock and surplus that equal at least the sum of the amounts required by subsection (a) of this section.
(3) For a branch that is to be located outside the municipal area of the principal banking office of the commercial bank, the commercial bank shall have capital stock and surplus that equal at least the sum of:
(i) The amount required by subsection (a) of this section; and
(ii) 1. $120,000, if it is in a municipal area with not more than 25,000 inhabitants;
2. $180,000, if it is in a municipal area with more than 25,000 and not more than 100,000 inhabitants;
3. $240,000, if it is in a municipal area with more than 100,000 and not more than 250,000 inhabitants; and
4. $900,000, if it is in a municipal area with more than 250,000 inhabitants.
(c) Unless otherwise provided by law, the unimpaired capital and surplus of a commercial bank include its debt instruments issued under § 3–312 of this title.
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.