276

LAWS OF MARYLAND

Ch. 33

(2) FILED WITH THE BANK COMMISSIONER.
(E) PUBLIC NOTICE OF FILING.

(1)   (I) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF
THIS SUBSECTION, THE BANK COMMISSIONER SHALL PUBLISH A
NOTICE OF THE FILING OF THE AGREEMENT.

(II) THE NOTICE SHALL BE PUBLISHED IN THE
MARYLAND REGISTER AS PROVIDED IN THE STATE DOCUMENTS LAW.

(2)   SUBJECT TO CONFIRMATION BY THE SECRETARY OF
LICENSING AND REGULATION, THE BANK COMMISSIONER MAY APPROVE
AN AGREEMENT WITHOUT THE NOTICE IN THE MARYLAND REGISTER IF:

(I)   THE FINANCIAL CONDITION OR STABILITY
OF ONE OF THE PARTIES TO THE PROPOSED TRANSACTION IS SUCH
THAT A DELAY OF THE PROPOSED TRANSACTION WILL CAUSE AN
ECONOMIC HARDSHIP TO IT; AND

(II)   APPROVAL OF THE AGREEMENT IS IN THE
PUBLIC INTEREST.

REVISOR'S NOTE: This section presently appears as Art.
11, § 51.

It is revised to apply also to a "transfer of
assets". In this regard, see revisor's note to §
3-702 of this article.

In subsection (b) of this section, the tern "any
other bank" is intended to cover federal banks,
including any federal savings banks.

As to subsection (d)(1) of this section, the tern
"signed and acknowledged" is substituted for
"executed before a public officer, qualified to
take acknowledgments". See § 1—202 of this
article.

Subsection (e) of this section is revised to
conform to the similar provisions of § 3—704 of
this article. See revisor's note to that

section.

The only other changes are in style.

4-702. VOLUNTARY DISSOLUTION.

(A) GENERAL RULE.

A SAVINGS BANK MAY DISSOLVE VOLUNTARILY AS PROVIDED IN
THIS SECTION.

(B) APPROVAL BY MEMBERS OR DIRECTORS.