3446

LAWS OF MARYLAND

Ch. 741

(1)  The corporation provides the same type of bank
services to any other bank; and

(2)  The applicant is competitive with any bank that
holds stock in the corporation.

(b)  A bank service corporation that is required to provide
bank services under this section may provide the services by:

(1)   Issuing stock and providing bank services to the
applicant on the same basis that the corporation issues stock and
provides bank services to the other banks that hold stock in the
corporation; or

(2)  Providing bank services to the applicant   at rates
that are no more than is necessary to reflect fairly the   costs of
the bank services, including the reasonable cost of the     capital
provided to the corporation by its stockholders.

(c)  A bank service corporation may refuse to provide bank
services under this section, if:

(1)  Comparable bank services at a competitive overall
cost are available to the applicant from another source; or

(2)  Providing bank services to the applicant would be
beyond the practical capacity of the corporation.

(d)   (1) An applicant may sue a bank service corporation:

(i) To compel the corporation to provide bank
services to it under this section; or

(ii) For damages for any breach of the duty
imposed on the corporation by this section.

(2) In an action brought under this subsection, a
bank service corporation that claims the benefit of the exception
provided by subsection (c)(1) of this section has the burden of
proving that these comparable bank services are available to the
applicant.]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.