{"data":{"id":"us-md/md.-code-financial-institutions-5-605","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 5–605","heading":"","body":"(a) Within a reasonable time after the Commissioner takes possession of a banking institution, the Commissioner, in the name of this State, shall petition an equity court in the county where the banking institution has its principal banking office to:\n(1) Take jurisdiction over the banking institution; and\n(2) Subject to subsection (b) of this section, appoint as receiver:\n(i) An examiner; or\n(ii) The Federal Deposit Insurance Corporation.\n(b) (1) The Commissioner may petition for appointment of the Federal Deposit Insurance Corporation as receiver only of a banking institution that the Corporation insures.\n(2) Appointment of the Federal Deposit Insurance Corporation becomes effective when the Corporation files with the court and the court approves a certificate of acceptance.\n(c) A receiver shall provide any bond that the court requires.\n(d) If an examiner is appointed receiver, the examiner:\n(1) May not receive further compensation for services as receiver; but\n(2) Subject to order of the court, is entitled to reimbursement for expenses for legal and clerical help and travel.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=5-605","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"755e7ae14ec359eb8704ed610f03b6cbec8b4e8e85913dfc780a6f677fed7eb9","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-5-604.1","next":"us-md/md.-code-financial-institutions-5-606"},"notice":"GroundRules: Original legal text. Not legal advice."}