Maryland Code, FINANCIAL INSTITUTIONS 2-107
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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 2-107
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
On or before December 31 of each year, the Commissioner shall submit to the Governor and, as provided under § 2-1257 of the State Government Article, the General Assembly an annual report that includes, at a minimum, the following information concerning the most recently completed fiscal year ending June 30:
(1) Operations of the office of the Commissioner;
(2) Amendments proposed by the Commissioner regarding the laws the Commissioner administers;
(3) Failures of licensed persons and State-chartered financial institutions;
(4) A summary of the composite ratings of banking institutions and State-chartered credit unions; and
(5) A breakdown by license category of the number of penalties assessed and instances of consumer recovery.