{"data":{"id":"us-md/md.-code-financial-institutions-3-301","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–301","heading":"","body":"(a) A subscription for the original capital stock of a commercial bank shall conform, to the extent applicable, to the provisions of the Maryland General Corporation Law that relate to stock subscriptions.\n(b) An increase in the outstanding capital stock of a commercial bank is not valid unless:\n(1) The commercial bank has sufficient surplus so that after the increase in capital stock its surplus will equal at least 20 percent of its capital stock; or\n(2) The amount of the increase is subscribed for and paid as required for subscription for original capital stock.\n(c) (1) Each share of common stock is entitled to one vote.\n(2) A stockholder may vote in person or by proxy the capital stock that the stockholder owns of record.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-301","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"a084f8e5b67e542c8a281ef444b3e753dcb0454baaa2e9781e3c330b81671229","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-213","next":"us-md/md.-code-financial-institutions-3-302"},"notice":"GroundRules: Original legal text. Not legal advice."}