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724
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Ch. 143
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LAWS OF MARYLAND
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(2) THE BANK WHOSE STOCK IS TO BE ACQUIRED HAS OR
WILL HAVE ON THE DATE BANKING BUSINESS IS COMMENCED IN THIS STATE
A MINIMUM CAPITAL STOCK AND PAID IN SURPLUS OF $10,000,000 AND
WILL HAVE WITHIN 1 YEAR OF THE DATE BANKING BUSINESS IS COMMENCED
IN THIS STATE, A MINIMUM CAPITAL STOCK AND PAID IN SURPLUS OF
$25,000,000;
(3) THE BANK WHOSE STOCK IS TO BE ACQUIRED EMPLOYS ON
THE DATE ITS BANKING BUSINESS IS COMMENCED IN THIS STATE OR WILL
EMPLOY WITHIN ONE YEAR OF THAT DATE NOT LESS THAN 100 PERSONS IN
THIS STATE;
(4) THE BANK WHOSE STOCK IS TO BE ACQUIRED:
(I) IS OPERATED IN A MANNER AND AT A LOCATION
THAT IS NOT LIKELY TO ATTRACT CUSTOMERS FROM THIS STATE TO THE
SUBSTANTIAL DETRIMENT OF EXISTING STATE BANKING INSTITUTIONS, OR
NATIONAL BANKS, OR FEDERAL SAVINGS BANKS LOCATED IN THIS STATE;
AND
(II) CAN BE OPERATED IN A MANNER LIKELY TO
ATTRACT AND RETAIN CUSTOMERS WITH WHOM THAT BANK, THE OUT OF
STATE BANK HOLDING COMPANY, OR SUCH BANK HOLDING COMPANY'S
BANKING OR NONBANKING SUBSIDIARIES HAVE OR HAVE HAD BUSINESS
RELATIONS; AND
(5) THE ACQUISITION HAS RECEIVED THE PRIOR APPROVAL
OF THE COMMISSIONER.
5-904.
(A) ANY OUT OF STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY
PROPOSING AN ACQUISITION UNDER SECTION 5-903 OF THIS SUBTITLE
SHALL FILE AN APPLICATION WITH THE COMMISSIONER FOR APPROVAL TO
MAKE THE ACQUISITION. THE APPLICATION SHALL CONTAIN ANY
INFORMATION THE COMMISSIONER MAY BY REGULATION REQUIRE AND SHALL
SPECIFICALLY ACKNOWLEDGE THE APPLICANT'S AGREEMENT TO BE BOUND BY
THE CONDITIONS OF SECTION 5-903 OF THIS SUBTITLE. IN ADDITION,
THE APPLICATION SHALL DESIGNATE A RESIDENT OF THIS STATE AS THE
APPLICANT'S AGENT FOR THE SERVICE OF ANY PAPER, NOTICE, OR LEGAL
PROCESS ON THE APPLICANT IN CONNECTION WITH MATTERS ARISING OUT
OF THIS SUBTITLE. THE APPLICATION SHALL BE ACCOMPANIED BY A
FILING FEE OF $5,000.
(B) IN DECIDING WHETHER TO APPROVE AN ACQUISITION BY AN OUT
OF STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY OF ANY VOTING
STOCK OF A BANK LOCATED IN THIS STATE, THE COMMISSIONER SHALL
CONSIDER:
(1) THE FINANCIAL AND MANAGERIAL RESOURCES OF THE OUT
OF STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY;
(2) THE FUTURE PROSPECTS OF THE BANK WHOSE ASSETS OR
SHARES WILL BE ACQUIRED;
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