Md. Code, Financial Institutions § 7-110
This is the official text of Md. Code, Financial Institutions § 7-110, 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.
§7–110.
Official statutory text
(a) (1) The Board of Directors of the Corporation:
(i) Shall elect one of its members as chairman of the Board; and
(ii) May appoint any officers and employees that it considers advisable.
(2) The manner of election of the chairman and appointment of officers and their terms of office shall be as the bylaws provide.
(b) In accordance with the bylaws of the Corporation, the Board of Directors shall set the amount of the fidelity bonds of the officers and employees of the Corporation.
(i) Shall elect one of its members as chairman of the Board; and
(ii) May appoint any officers and employees that it considers advisable.
(2) The manner of election of the chairman and appointment of officers and their terms of office shall be as the bylaws provide.
(b) In accordance with the bylaws of the Corporation, the Board of Directors shall set the amount of the fidelity bonds of the officers and employees of the Corporation.
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.