Section 2-203 - Function and duties.
§ 2-203. Function and duties.
(a) Function.- The function of the Banking Board is advisory.
(b) Duties.- The Banking Board shall give the Commissioner sound and impartial advice on:
(1) The approval or disapproval of applications by a banking institution and foreign banking corporation;
(2) How to protect the interests of the general public and of depositors and stockholders in banking institutions; and
(3) Any other matter concerning banking institutions or the business of banking in this State.
(c) Statement if advice not followed.- If the Commissioner does not follow the advice of the Banking Board, the Commissioner shall send to the Banking Board a written statement of the reason for the action.
[An. Code 1957, art. 11, § 27; 1980, ch. 33, § 2; 1981, ch. 753, § 1; 1996, ch. 326, § 2.]