§ 2-117. Cooperative and information sharing agreements

   (a) In general. -- Subject to subsections (b), (c), and (d) of this section, notwithstanding any other provision of State laws or regulations, the Commissioner may:

   (1) Enter into cooperative and information sharing agreements with any federal or state regulatory agency having authority over financial institutions or with any federal or state law enforcement agency, provided that the agreements prohibit the agency from disclosing any shared information without prior written consent from the Commissioner regarding disclosure of the particular information; and

   (2) Exchange information about a financial institution, including information obtained during an examination, with any federal or state regulatory agency having authority over the financial institution or with any federal or state law enforcement agency.

(b) Confidentiality requirements for agency records. -- If the Commissioner receives a record from an agency under a cooperative and information sharing agreement authorized by subsection (a)(1) of this section and the agency expressly retains ownership of the record, either in writing or by law or regulation, the Commissioner:

   (1) May not disclose the record to any person that requests the record under § 10-611 through 10-628 of the State Government Article; and

   (2) Shall forward the request for the record to the agency that owns the record for processing in accordance with the laws or regulations governing disclosure of the agency's records.

(c) Affiliates. -- Notwithstanding § 2-113(d) of this subtitle, an affiliate as defined in § 2-113(a) of this subtitle is subject to subsection (a) of this section if that affiliate maintains or is required to maintain a license issued by the Commissioner.

(d) Federal preemption. -- This section does not authorize the Commissioner to share or exchange information in any way prohibited by federal law.

HISTORY: 2008, ch. 499; 2011, ch. 109.