Unannotated Code of Maryland (Last Updated: May 16, 2014) |
FINANCIAL INSTITUTIONS |
TITLE 5. BANKING INSTITUTIONS -- GENERAL PROVISIONS |
SUBTITLE 9. BANK HOLDING COMPANIES |
§ 5-906. Approval of application -- Time limits
Latest version.
-
(a) In general. -- The Commissioner shall decide whether to approve an application under § 5-904 of this subtitle within 60 days of receipt of a completed application.
(b) Approval upon expiration of time period. -- An application shall be deemed approved if the Commissioner takes no action on the application within the time limits specified in this section.