{"data":{"id":"us-md/md.-code-financial-institutions-3-206","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–206","heading":"","body":"(a) Except as otherwise provided in this article, a commercial bank has all of the general powers granted to Maryland corporations under the Maryland General Corporation Law.\n(b) In addition to the powers set forth elsewhere in this article, a commercial bank may:\n(1) Receive deposits of money on which interest may be paid;\n(2) Buy and sell coin and bullion;\n(3) Buy and sell foreign and domestic exchange;\n(4) Subject to § 3-604 of this title, accept drafts drawn on it;\n(5) Issue letters of credit that authorize the holder to draw drafts on it or on its correspondents payable at sight or at a time not exceeding 1 year;\n(6) Issue its debt instruments for money that is borrowed or received on deposit or for investment;\n(7) Lend money on personal security or on real or personal property;\n(8) Subject to § 3-605 of this title, become owner and lessor of personal property;\n(9) Subject to § 5-503 of this article, buy, hold, lease, and convey real property;\n(10) Pledge collateral to secure deposits of:\n(i) The federal government or its agencies; or\n(ii) Any state or its political subdivisions;\n(11) Pledge securities to secure the money of an estate administered under the federal bankruptcy laws;\n(12) Without being deemed a branch of a depository institution affiliate, act in accordance with § 101(d) of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, as agent of any depository institution affiliate in:\n(i) Receiving deposits;\n(ii) Renewing time deposits;\n(iii) Closing loans;\n(iv) Servicing loans; or\n(v) Receiving payments on loans and other obligations; and\n(13) Exercise all of the powers usual in carrying on a banking business.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-206","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"3bc0350543b937c1a433329a5479dc14845b50ee73e815faa1f5cd4842b58e12","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-205","next":"us-md/md.-code-financial-institutions-3-207"},"notice":"GroundRules: Original legal text. Not legal advice."}