68

LAWS OF MARYLAND

Ch. 3

(A)  IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)  "ACQUIRE" MEANS TO ASSUME OWNERSHIP OR CONTROL,
DIRECTLY OR INDIRECTLY, OF ANY VOTING SHARES OF, INTEREST IN, OR
ALL OR A SUBSTANTIAL PORTION OF THE ASSETS AND LIABILITIES,
INCLUDING ALL SAVINGS ACCOUNTS LIABILITIES AND LIABILITIES TO THE
STATE, OF THE FOLLOWING INSTITUTIONS:

(1)  A SAVINGS AND LOAN ASSOCIATION;

(2)  A NEWLY FORMED COMMERCIAL BANK CHARTERED TO
CONSUMMATE A TRANSACTION WITH A SAVINGS AND LOAN ASSOCIATION
UNDER THIS SUBTITLE; OR

(3)  A COMMERCIAL BANK THAT RESULTS FROM THE
CONVERSION OF A SAVINGS AND LOAN ASSOCIATION.

(C)  "ACT" MEANS THE FEDERAL BANK HOLDING COMPANY ACT OF
1956, AS AMENDED.

(D)  "COMMISSIONER" MEANS THE BANK COMMISSIONER OF THIS
STATE.

(E)  "OUT-OF-STATE BANK HOLDING COMPANY" MEANS A COMPANY
THAT IS DEFINED AS A BANK HOLDING COMPANY UNDER THE ACT AND THAT
CONDUCTED ITS PRINCIPAL BANKING BUSINESS IN A JURISDICTION OF THE
UNITED STATES OTHER THAN MARYLAND ON JULY 1, 1966, OR ON THE DATE
ON WHICH THE COMPANY BECAME A BANK HOLDING COMPANY UNDER THE ACT,
WHICHEVER OCCURRED LATER.

(F)  "SAVINGS ACCOUNTS" HAS THE MEANING STATED IN §
10-101(J) OF THIS ARTICLE.

(G)  "SAVINGS AND LOAN ASSOCIATION" MEANS A CORPORATION THAT
IS:

(1)  CHARTERED UNDER THE LAWS OF THIS STATE AS A
SAVINGS AND LOAN ASSOCIATION; AND

(2)  INSURED BY THE STATE OF MARYLAND DEPOSIT
INSURANCE FUND CORPORATION.

5-1101.1.

THE PROVISIONS OF THIS SUBTITLE WHICH AUTHORIZE AN
OUT-OF-STATE BANK HOLDING COMPANY TO ACQUIRE AND HOLD CERTAIN
INSTITUTIONS ARE ONLY IN EFFECT THROUGH JUNE 1, 1986. ANY
ACQUISITION THAT WAS APPROVED UNDER THIS SUBTITLE BEFORE JUNE 1,
1986 REMAINS SUBJECT TO THE TERMS AND CONDITIONS THAT WERE IN
EFFECT BEFORE THAT DATE.

5-1102.

(A) THIS SUBTITLE SETS FORTH THE CONDITIONS UNDER WHICH AN
OUT-OF-STATE BANK HOLDING COMPANY MAY ACQUIRE AND HOLD: