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HARRY HUGHES, Governor 1567
(iii) A banking and trust business.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.
Approved May 21, 1985.
CHAPTER 114
(House Bill 1715)
AN ACT concerning
Financial Institutions - Powers and Privileges of Banks
Acquired by Out of State Bank Holding Companies
Banking - Interstate Banking Acquisitions
FOR the purpose of removing certain restrictions on the
operations of any bank whose stock is acquired by an
out of state bank holding company or its subsidiary prior to
a certain date; and granting to any such bank all the powers
and privileges available to a banking institution of this
State and a national banking association whose principal
office is in this State authorizing certain financial
institutions governed by Title 5, Subtitle 9 of the
Financial Institutions Article to be exempted from certain
restrictions under certain conditions and, after a certain
period of time has elasped elapsed, and after the
Commissioner finds that certain requirements have been met;
providing that certain provisions of this Act shall be null
and void under certain circumstances; providing limitations
on the number of banking offices that may be established
under certain circumstances; providing that this Act shall
become effective contingent upon enactment of a certain
other Act; providing that the Bank Commissioner may review
certain factors when considering a request for an exemption;
authorizing certain administrative and judicial remedies for
violations of certain provisions of this Act; providing that
this Act may not be interpreted in a certain manner with
respect to the conduct of the business of insurance; and
generally relating to the regulation of bank acquisitions en
a reciprocal interstate basis and under Title 5, Subtitle 9
of the Financial Institutions Article.
BY adding to
BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 5-903(c) Section 5-903, 5-904, 5-907, and 5-908 and
5-907
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