{"data":{"id":"us-md/md.-code-financial-institutions-3-702","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–702","heading":"","body":"(a) Any bank may, as provided in this subtitle:\n(1) Consolidate with one or more other banks to form a new consolidated bank;\n(2) Merge into another bank or have one or more other banks merged into it; or\n(3) Transfer its assets to another bank.\n(b) If the successor will be a commercial bank:\n(1) The consolidation, merger, or transfer of assets shall be made in accordance with the provisions of this subtitle; and\n(2) If one of the constituent banks is a national banking association or a federally chartered savings bank or savings and loan association, federal law governs its actions and the rights of its stockholders.\n(c) If the successor will be a national banking association or a federally chartered savings bank or savings and loan association:\n(1) Federal law governs:\n(i) The actions of a constituent bank;\n(ii) The rights of its stockholders; and\n(iii) The effect of the consolidation, merger, or transfer of assets on its rights, franchises, interests, and fiduciary duties; and\n(2) Except for this section and § 3-710 of this subtitle, the other provisions of this subtitle do not apply to the consolidation, merger, or transfer of assets.\n(d) If one of the constituent banks is an other-state bank:\n(1) Maryland law governs:\n(i) The actions of the banking institution;\n(ii) The rights of its stockholders; and\n(iii) The effect of the consolidation, merger, or transfer of assets on its rights, franchises, interests, and fiduciary duties; and\n(2) The law of the other state governs:\n(i) The actions of the other-state bank;\n(ii) The rights of its stockholders; and\n(iii) The effect of the consolidation, merger, or transfer of assets on its rights, franchises, interests, and fiduciary duties.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-702","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"b6fb5ca3a9c5e47bae255be11e01b7bf8d571a2b4907668cd9d5b17d07fe9794","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-701","next":"us-md/md.-code-financial-institutions-3-703"},"notice":"GroundRules: Original legal text. Not legal advice."}