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726
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LAWS OF MARYLAND
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Ch. 143
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COMMISSIONER MAY PERMIT THE DIVESTITURE TO BE MADE AT SOME LATER
DATE IF THE COMMISSIONER DETERMINES THAT THE EXTENSION WOULD NOT
DIVESTITURE WOULD BE DETRIMENTAL TO THE PUBLIC INTEREST FOR
ECONOMIC REASONS.
(D) AN ORDER OF THE BANK COMMISSIONER UNDER THIS SUBTITLE
SHALL BE SUBJECT TO DE NOVO REVIEW BY THE CIRCUIT COURT FOR THE
COUNTY WHERE THE BANK IS LOCATED UNDER THE ADMINISTRATIVE
PROCEDURE ACT.
5-908.
IF ANY PROVISION OF THIS SUBTITLE IS HELD INVALID, THE
INVALIDITY DOES NOT AFFECT ANY OTHER PROVISIONS OF THIS SUBTITLE
WHICH CAN BE GIVEN EFFECT WITHOUT THE INVALID PROVISION, EXCEPT
THAT IF ANY 2 PROVISIONS OF SECTION 5-903 ARE FOR ANY REASON HELD
INVALID AS CONDITIONS OF THE STATUTORY GRANT CONTEMPLATED BY THIS
SUBTITLE AND UNENFORCEABLE AS TERMS OF AN AGREEMENT UNDER SECTION
5-904(A) OF THIS SUBTITLE, IN FINAL ORDERS ENTERED BY COURTS OF
COMPETENT JURISDICTION OF THIS STATE OR OF THE UNITED STATES,
THIS SUBTITLE SHALL NOT HAVE ANY FURTHER FORCE AND EFFECT AND AN
OUT OF STATE BANK HOLDING COMPANY OR ITS SUBSIDIARY MAY NOT
THEREAFTER ACQUIRE SHARES OF A BANK LOCATED IN THIS STATE UNDER
THIS SUBTITLE.
11-301.
(a) This subtitle does not apply to any loan OR EXTENSION
OF CREDIT:
(1) Between relatives;
(2) Between an employer and an employee;
(3) Between a landlord and a tenant; or
(4) Between a primary or secondary or nonprofit
degree-granting postsecondary academic educational institution
and a student or parents or guardian of that student, for tuition
or other expenses of education at that institution.
(b) The licensing provisions of this subtitle do not apply
to any of the following persons, if organized under the laws of
this State or otherwise qualified to do business in this State:
(1) A banking institution;
(2) A national banking association;
(3) A federal or state savings and loan association;
(4) A federal or state credit union; [or]
(5) A licensee under Title 11, Subtitle 2 of this
article; OR
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