Md. Code, Fin. Inst. § 5-613

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024

Section 5-613 - Plan of reorganization - Consent of political subdivisions

With the consent of the local governing body of any political subdivision that has money deposited with a banking institution, its treasurer or similar fiscal officer may:

(1) Consent to a plan of reorganization proposed under this subtitle; and

(2) Bind the political subdivision to limit withdrawals from the institution as provided in the plan.

Md. Code, FI § 5-613