Md. Code Ann., Fin. Inst. § 2-103
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2024
As of January 1, 2019
(a) With the approval of the Secretary of Labor, Licensing, and Regulation, the Commissioner shall appoint a Deputy Commissioner.
(a) With the approval of the Secretary of Labor, the Commissioner shall appoint: (1) A Deputy Commissioner for Depository Activities; and (2) A Deputy Commissioner for Non–Depository Activities.
(b) The Deputy Commissioner serves at the pleasure of the Commissioner and is an employee of the Commissioner’s office.
(b) The Deputy Commissioners appointed under subsection (a) of this section serve at the pleasure of the Commissioner and are employees of the Commissioner’s office.
(c) The Deputy Commissioner shall have at least 5 years of experience in: (1) State or national banking regulation or management; or (2) The regulation or management of the business of making loans by persons of the type regulated by this article.
(c) (1) The Deputy Commissioner for Depository Activities shall have at least 5 years of experience in the regulation or management of financial institutions.
(2) The Deputy Commissioner for Non–Depository Activities shall have at least 5 years of experience in the regulation or management of persons required to be licensed or registered under this article or the Commercial Law Article.
(d) The Deputy Commissioner is entitled to the salary provided in the State budget.
(d) The Deputy Commissioners appointed under subsection (a) of this section are entitled to the salary provided in the State budget.
(e) In addition to any other powers and duties set forth in this article, the Deputy Commissioner has the powers and duties of the Commissioner: (1) To the extent delegated by the Commissioner; (2) If the office of the Commissioner is vacant; and (3) If for any reason the Commissioner is unable to perform the duties of the office.
(e) In addition to any other powers and duties set forth in this article: (1) The Deputy Commissioner for Depository Activities has the powers and duties of the Commissioner: (i) To the extent delegated by the Commissioner; (ii) If the office of the Commissioner is vacant; and (iii) If for any reason the Commissioner is unable to perform the duties of the office; and (2) The Deputy Commissioner for Non–Depository Activities has the powers and duties of the Commissioner to the extent delegated by the Commissioner.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.