(a) (1) Before the Commissioner issues a certificate to do business, the
required capital stock and the required surplus shall be paid in full.
(2) A commercial bank shall have required capital stock that equals at
least:
(i) $750,000, if it is in a municipal area with not more than 50,000
inhabitants;
(ii) $1.5 million, if it is in a municipal area with more than 50,000
inhabitants; and
(iii) Notwithstanding the municipal area in which the commercial bank is
located, the lowest minimum amount of capital required under this
subsection, if the bank is not in the business of accepting deposits or
retaining funds in a deposit account as defined in § 5-509 of this
article.
(3) A commercial bank shall have a surplus in an amount that equals at
least 20 percent of its required capital stock.
(b) (1) Before a commercial bank establishes a branch, the commercial bank
shall have capital stock and surplus as provided in this subsection.
(2) For a branch that is to be located inside the municipal area of the
principal banking office of the commercial bank, the commercial bank
shall have capital stock and surplus that equal at least the sum of the
amounts required by subsection (a) of this section.
(3) For a branch that is to be located outside the municipal area of the
principal banking office of the commercial bank, the commercial bank
shall have capital stock and surplus that equal at least the sum of:
(i) The amount required by subsection (a) of this section; and
(ii) 1. $120,000, if it is in a municipal area with not more than 25,000
inhabitants;
2. $180,000, if it is in a municipal area with more than 25,000 and not
more than 100,000 inhabitants;
3. $240,000, if it is in a municipal area with more than 100,000 and not
more than 250,000 inhabitants; and
4. $900,000, if it is in a municipal area with more than 250,000
inhabitants.
(c) Unless otherwise provided by law, the unimpaired capital and surplus of
a commercial bank include its debt instruments issued under § 3-312
of this title.
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