3056

LAWS OF MARYLAND

Ch. 856

(V) THE SOURCE OF PAYMENT FOR THE ANNUAL
EXPENSE.

(C)  NOTICE.

(1)  THE DIVISION DIRECTOR SHALL PUBLISH NOTICE
OF THE FILING OF AN APPLICATION UNDER THIS SECTION AND OF
THE PUBLIC HEARING.

(2)  THE NOTICE SHALL STATE THAT:

(I)  A PUBLIC HEARING MAY BE HELD ON A DATE
THAT IS AT LEAST 30 DAYS AND NOT MORE THAN 60 DAYS AFTER THE
FILING;

(II)  WRITTEN PROTESTS TO THE APPLICATION
SHALL BE RECEIVED NO LATER THAN 10 DAYS BEFORE THE SCHEDULED
HEARING; AND

(III)  IF THE BOARD DOES NOT RECEIVE ANY
WRITTEN PROTEST WITHIN THE TIME PROVIDED IN THE NOTICE, THE
HEARING MAY BE CANCELED.

(3)  THE NOTICE SHALL BE PUBLISHED:

(I)  FOR AT LEAST 2 WEEKS IN A NEWSPAPER OF
GENERAL CIRCULATION IN THE POLITICAL SUBDIVISION WHERE THE
PROPOSED OFFICE IS TO BE LOCATED;

(II)  IN THE MARYLAND REGISTER, AS PROVIDED
IN THE STATE DOCUMENTS LAW; AND

(III)  AS THE DIVISION DIRECTOR CONSIDERS
OTHERWISE DESIRABLE.

(D)  PROTEST.

(1)  ANY SAVINGS AND LOAN ASSOCIATION LOCATED IN
THE AREA WHERE A PROPOSED BRANCH OFFICE OF A SAVINGS AND
LOAN ASSOCIATION IS TO BE LOCATED OR A PRINCIPAL OFFICE IS
PROPOSED TO BE RELOCATED MAY PROTEST THE REQUESTED APPROVAL
OF THE DIVISION DIRECTOR.

(2)  THE DIVISION DIRECTOR SHALL GIVE ANY SAVINGS
AND LOAN ASSOCIATION THAT PROTESTS UNDER PARAGRAPH (1) OF
THIS SUBSECTION AN OPPORTUNITY TO BE HEARD.

(E)  APPROVAL BY DIVISION DIRECTOR.

NOT LATER THAN 30 DAYS AFTER THE CONCLUSION OF THE
HEARING OR, IF A HEARING IS NOT HELD, AFTER THE SCHEDULED
HEARING DATE, THE DIVISION DIRECTOR SHALL APPROVE AN
APPLICATION UNDER THIS SECTION IF THE DIRECTOR FINDS THAT:

(1) THE PUBLIC INTEREST WILL BE PROMOTED; AND