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Section 3-605 - Owning and Leasing Personal Property — Maryland Law | CourtGPT
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  7. Section 3-605 - Owning and Leasing Personal Property
Maryland Legal Code

Section 3-605 - Owning and Leasing Personal Property

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(a) This section does not apply to a leasehold interest in real property. (b) Subject to the rules and regulations of the Commissioner, a commercial bank may become the owner and lessor of personal property if: (1) The personal property is acquired on the specific request of and for the use of a customer; and (2) The investment of the commercial bank in personal property does not exceed: (i) For any one customer, 10 percent of the unimpaired capital and surplus of the commercial bank; and (ii) For all of its customers, the total of its unimpaired capital and surplus.