1562

LAWS OF MARYLAND

Ch. 113

(3) THE APPROVAL BY THE COMMISSIONER SHALL BE SUBJECT
TO:

(I)  THE LAWS AND REGULATIONS APPLICABLE TO THE
ACQUISITIONS OF MARYLAND BANKS AND MARYLAND BANK HOLDING
COMPANIES BY A BANK HOLDING COMPANY ALL OF WHOSE BANK
SUBSIDIARIES ARE LOCATED IN THIS STATE; AND

(II)  ANY ADDITIONAL CONDITIONS, RESTRICTIONS,
REQUIREMENTS OR OTHER LIMITATIONS THAT APPLY TO THE ACQUISITION
BY A MARYLAND BANK HOLDING COMPANY OF A BANK OR BANK HOLDING
COMPANY IN THE JURISDICTION WHERE THE OUT-OF-STATE BANK HOLDING
COMPANY HAS ITS PRINCIPAL PLACE OF BUSINESS BUT DO NOT APPLY TO
ACQUISITIONS BY BANK HOLDING COMPANIES ALL OF WHOSE BANK
SUBSIDIARIES ARE LOCATED IN THAT JURISDICTION.

(C)  IF THE ACQUISITION HAS OTHERWISE BEEN APPROVED UNDER
THIS SUBTITLE, THIS SECTION DOES NOT PROHIBIT THE ACQUISITION BY
AN OUT-OF-STATE BANK HOLDING COMPANY OF ALL OR SUBSTANTIALLY ALL
OF THE SHARES OF A BANK ORGANIZED SOLELY TO FACILITATE THE
ACQUISITION OF A BANK THAT HAS BEEN IN EXISTENCE AND CONTINUOUSLY
OPERATED AS A BANK FOR MORE THAN 2 4 YEARS.

(D) THIS SUBTITLE MAY NOT BE CONSTRUED TO ALLOW THE
COMMISSIONER TO APPROVE THE ACQUISITION OF A DE NOVO BANK BEFORE
JULY 1, 1989.

5-1004.

(A)  EXCEPT AS EXPRESSLY PERMITTED BY FEDERAL LAW OR TITLE
5, SUBTITLE 9 OF THIS ARTICLE, A BANK OR BANK HOLDING COMPANY
THAT IS NOT A MARYLAND BANK OR MARYLAND BANK HOLDING COMPANY OR
IS NOT AN OUT-OF-STATE BANK HOLDING COMPANY MAY NOT ACQUIRE A
MARYLAND BANK, A MARYLAND BANK HOLDING COMPANY, OR AN
OUT-OF-STATE BANK HOLDING COMPANY HAVING A MARYLAND BANK
SUBSIDIARY.

(B)  (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, IF A MARYLAND BANK HOLDING COMPANY OR AN OUT-OF-STATE
BANK HOLDING COMPANY CEASES TO BE A MARYLAND BANK HOLDING COMPANY
OR AN OUT-OF-STATE BANK HOLDING COMPANY, AS DEFINED IN THIS
SUBTITLE, THE BANK HOLDING COMPANY SHALL, WITHIN 2 YEARS, DIVEST
ITSELF OF ALL MARYLAND BANKS AND MARYLAND BANK HOLDING COMPANIES.

(2) AN OUT-OF-STATE BANK HOLDING COMPANY OR A
MARYLAND BANK HOLDING COMPANY MAY NOT BE REQUIRED TO DIVEST ITS
MARYLAND BANKS OR BANK HOLDING COMPANIES IF:

(I) AN INSTITUTION IN ANOTHER JURISDICTION NOT
WITHIN THE REGION OR, ON OR AFTER JULY 1, 1989, NOT WITHIN A
JURISDICTION PERMITTING A MARYLAND BANK HOLDING COMPANY TO
ACQUIRE A BANK OR A BANK HOLDING COMPANY IN THAT JURISDICTION ON
A RECIPROCAL BASIS, IS ACQUIRED UNDER SECTION 116 OR SECTION 123
OF THE GARN-ST GERMAIN DEPOSITORY INSTITUTIONS ACT OF 1982, AS