|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
723
|
|
|
|
|
HARRY HUGHES, Governor
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(C) "COMMISSIONER" MEANS THE STATE BANK COMMISSIONER OF THE
STATE OF MARYLAND.
(D) "DIVEST" MEANS TO TRANSFER ALL INTEREST, LEGAL OR
EQUITABLE, TO A PERSON OR OTHER ENTITY IN WHICH THE TRANSFEROR
HAS NO INTEREST, DIRECT OR INDIRECT, OR WHICH HAS NO INTEREST,,
DIRECT OR INDIRECT, IN THE TRANSFEROR.
(E) "LOCATED IN THIS STATE" MEANS, WITH RESPECT TO A STATE
CHARTERED BANK, A BANK INCORPORATED UNDER THE LAWS OF THIS STATE
AND, WITH RESPECT TO A NATIONAL BANKING ASSOCIATION OR A FEDERAL
SAVINGS BANK, A BANK WHOSE ORGANIZATION CERTIFICATE IDENTIFIES AN
ADDRESS IN THIS STATE AS THE PLACE AT WHICH ITS DISCOUNT AND
DEPOSIT OPERATIONS ARE TO BE CARRIED OUT.
(F) "SUBSIDIARY" MEANS, WITH RESPECT TO AN OUT OF STATE
BANK HOLDING COMPANY:
(1) ANY COMPANY, 25 PERCENT OR MORE OF WHOSE VOTING
SHARES ARE DIRECTLY OR INDIRECTLY OWNED OR CONTROLLED BY THE BANK
HOLDING COMPANY, OR ARE HELD BY IT WITH POWER TO VOTE; OR
(2) ANY COMPANY, THE ELECTION OF A MAJORITY OF WHOSE
DIRECTORS IS CONTROLLED IN ANY MANNER BY THE BANK HOLDING
COMPANY.
5-902.
THIS SUBTITLE SETS FORTH THE CONDITIONS UNDER WHICH OUT OF
STATE BANK HOLDING COMPANIES OR SUBSIDIARIES MAY ACQUIRE AND HOLD
SHARES OF VOTING STOCK IN BANKS LOCATED IN THIS STATE. THIS
SUBTITLE DOES NOT LIMIT THE POWERS GRANTED TO ANY BANK IN THIS
STATE TO CONDUCT BANK A BANKING BUSINESS.
5-903.
(A) EXCEPT AS PROVIDED IN SECTION 1842 OF TITLE 12 OF THE
UNITED STATES CODE, AS AMENDED, AND AS PROVIDED HEREIN, AN OUT OF
STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY MAY NOT ACQUIRE
OR HOLD, DIRECTLY OR INDIRECTLY, ANY VOTING SHARES OF, ANY
INTEREST IN, OR ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF ANY
BANK LOCATED IN THIS STATE.
(B) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION, AN OUT
OF STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY MAY ACQUIRE AND
HOLD ALL OR SUBSTANTIALLY ALL OF THE VOTING SHARES OF A SINGLE
BANK LOCATED IN THIS STATE IF:
(1) THE BANK WHOSE STOCK IS TO BE ACQUIRED IS A NEWLY
ESTABLISHED BANK THAT HAS, OR WILL HAVE WHEN CHARTERED, NO MORE
THAN 1 OFFICE LOCATED IN THIS STATE OPEN TO THE PUBLIC TO CONDUCT
BANKING BUSINESS;
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
