A bank, trust company, or savings bank that does not meet the definition in Md. Code Ann., Estates & Trusts, Section 1-101(z) is subject to Md. Code Ann., Estates & Trusts, Section 14.5-710(b), and must register with the Office of Financial Regulation, before exercising trust or fiduciary powers in the State of Maryland. Registration is not requires for most national banks and federal savings banks that have the power to exercise trust or fiduciary powers under federal law, 501(c)(3) corporations, and out-of-state depository institutions with a branch or an office in the State of Maryland. Note: A foreign bank office permit may be required (Md. Code Ann., Fin. Inst., Section 12-201, et seq.).

A completed registration for a bank or trust company required to register with the Office of Financial Regulation to exercise trust or fiduciary powers in Maryland must be submitted to the Office of Financial Regulation.

The registration must be accompanied by the submission of: 1) A letter from the applicant's home state chartering authority confirming reciprocity with Maryland, as an out-of-state bank or trust company may exercise trust or fiduciary powers in the State of Maryland only if the laws of the state where it is chartered will permit a Maryland state-chartered bank or trust company to exercise trust or fiduciary powers in that state under the same circumstances; 2) a Certificate of Good Standing demonstrating that the applicant is qualified through the Maryland State Department of Assessments and Taxation to do business in Maryland; and 3) a certificate of valid charter or good standing from its chartering/home state.

Please email required attachments to finreg.corporateactivities@maryland.gov after submitting this application. Please reference in your email the name of the bank or trust company and the date of submission of the application.

Notice: This information will be kept in the file and is available to the public. If a change is to be made to any of the above information, written notice must be provided to the Office of Financial Regulation at the least fifteen (15) days before the effective date of the change pending. Failure to provide proper notice may void this registration.

For questions about this registration, please contact:

Stephen Clampett, Assistant Commissioner for Corporate Activities - stephen.clampett1@maryland.gov.

Katie Anderson, Corporate Activities Specialist - katie.anderson@maryland.gov.