HARRY HUGHES, Governor

1563

AMENDED, 12 U.S.C. § 1730A(M) OR 12 U.S.C. § 1823(F),
RESPECTIVELY;

(II)  A BANK HAVING BANKING OFFICES IN A
JURISDICTION OTHER THAN WITHIN THE REGION OR, ON OR AFTER JULY 1,
1989, OTHER THAN WITHIN A JURISDICTION PERMITTING A MARYLAND BANK
HOLDING COMPANY TO ACQUIRE A BANK OR BANK HOLDING COMPANY IN THAT
JURISDICTION ON A RECIPROCAL BASIS, IS ACQUIRED IN THE REGULAR
COURSE OF SECURING OR COLLECTING A DEBT PREVIOUSLY CONTRACTED IN
GOOD FAITH, AS PROVIDED IN SECTION 3(A) OF THE FEDERAL BANK
HOLDING COMPANY ACT OF 1956, AS AMENDED, 12 U.S.C. § 1842(A), AND
THE BANK OR BANK HOLDING COMPANY DIVESTS THE SECURITIES OR ASSETS
ACQUIRED WITHIN 2 YEARS OF THE DATE OF ACQUISITION;

(III)  AN INSTITUTION IS ACQUIRED THAT IS:

1.  A BANK ORGANIZED UNDER THE LAWS OF THE
UNITED STATES OR OF ANY JURISDICTION AND OPERATING UNDER SECTION
25 OF THE FEDERAL RESERVE ACT, AS AMENDED, 12 U.S.C. §§ 601
THROUGH 604A AND 12 U.S.C. §§ 611 THROUGH 632; OR

2.  A BANK OR BANK HOLDING COMPANY
ORGANIZED UNDER THE LAWS OF A FOREIGN COUNTRY THAT IS PRINCIPALLY
ENGAGED IN BUSINESS OUTSIDE THE UNITED STATES AND WHICH EITHER
HAS NO BANKING OFFICE IN THE UNITED STATES OR HAS ONE OR MORE
BANKING OFFICES IN THE UNITED STATES THAT ARE ENGAGED ONLY IN
BUSINESS ACTIVITIES PERMITTED A BANK OPERATING UNDER SECTION 25
OF THE FEDERAL RESERVE ACT, AS AMENDED, 12 U.S.C. §§ 601 THROUGH
604A AND 12 U.S.C. §§ 611 THROUGH 632; OR

(IV)  AN INCREASE IN DEPOSITS IN BANK
SUBSIDIARIES 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 NOT THE RESULT OF AN
ACQUISITION OF A BANK OR BANK HOLDING COMPANY.

(C) (1) THE COMMISSIONER MAY ENFORCE THE PROVISIONS OF THIS
SECTION THROUGH THE IMPOSITION OF PENALTIES UP TO $500 PER DAY
EACH DAY THE VIOLATION CONTINUES TO EXIST, THE ISSUANCE OF CEASE
AND DESIST ORDERS UNDER § 5-808 OF THIS ARTICLE, AND ANY OTHER
REMEDIES AS ARE PROVIDED BY LAW.

(2) IN DETERMINING THE AMOUNT OF FINANCIAL PENALTY TO
BE IMPOSED, THE COMMISSIONER SHALL CONSIDER THE FOLLOWING:

(I)  THE SERIOUSNESS OF THE VIOLATION;

(II)  THE GOOD FAITH OF THE VIOLATOR;

(III)  THE VIOLATOR'S HISTORY OF PREVIOUS
VIOLATIONS;

(IV)  THE DELETERIOUS EFFECT OF THE VIOLATION ON
THE PUBLIC AND THE BANKING INDUSTRY; AND