TASK FORCE TO STUDY BANK CHARTER MODERNIZATION

Appointed by Governor: Mary Beyer-Halsey; Fernando Cruz-Villalba; Teresa A. Halleck; John M. Hamilton; Stephen D. Hannan, Esq.; Nicole M. Harrell; Joanne R. Kerstetter-Hull; A. Patrick Linton; Michelle S. Meier, Esq.; Ernest Stokes II, Esq.

Appointed by House Speaker: John S. Arnick; David R. Brinkley; John F. Wood, Jr.

Appointed by Commissioner of Financial Regulation: Gregory L. Watkins; Anthony H. Zelaznicki.

Staff: Peggy J. Parr

c/o Division of Financial Regulation
Dept. of Labor, Licensing, & Regulation
500 North Calvert St., Room 402, Baltimore, MD 21202
(410) 230-6103; fax: (410) 333-0475
e-mail: fin_reg@dllr.state.md.us

The Task Force to Study Bank Charter Modernization started in 1997 (Chapter 302, Acts of 1997). The work of the Task Force focused on modernizing State banking laws and facilitating conversions of other financial institutions to State-chartered banking institutions. To these ends, the Task Force identified changes since 1980 in federal law affecting banks, and studied how other states have responded to these changes. The Task Force also reviewed Maryland laws that affect the operation and powers of State-chartered banking institutions, including commercial and savings banks. Additionally, for the General Assembly, the Task Force drafted revisions to the Financial Institutions Article (Title 3 through Title 5) of the Annotated Code of Maryland.

The Task Force submitted an interim report to the General Assembly on November 1, 1997, and its final report in November 1998.

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