86

LAWS OF MARYLAND

Ch. 8

(ii) Within 1 1/2 years after the date of the
granting of the exemption, employ at least 500 persons full time
at that facility within the enterprise zone, but excluding
persons employed by the bank acquired under subsection (b) of
this section or by the bank's or the out-of-state bank holding
company's nonbanking subsidiaries in the State, at the time the
exemption is granted;

(iii) Within 2 1/2 years after the granting of
the exemption, employ at least 1,000 persons full time in this
State, at least 750 of whom shall be employed at the facility in
the enterprise zone, including those jobs created under
subparagraph (ii) of this paragraph, but excluding persons
employed by the bank acquired under subsection (b) of this
section or by the bank's or the out-of-state bank holding
company's nonbanking subsidiaries in the State, at the time the
exemption is granted;

(iv) Within 2 1/2 years after the date of the
granting of the exemption, invest at least $25,000,000 for the
purchase, installation, construction, or rehabilitation of
capital facilities located within an enterprise zone;

(v) Until such time as national reciprocal
interstate banking is authorized under State law, agree not to
acquire or hold, directly or indirectly, any voting shares of,
any interest in, or all or substantially all of the assets of any
other Maryland bank or Maryland bank holding company, regardless
of the date of the charter of the Maryland bank or Maryland bank
holding company;

(vi) Not established more than 10 offices open
to the public to conduct banking business, in accordance with
this article, during the 12-month period following the finding of
the Commissioner required under subsection (c)(3) of this section
and not more than 10 additional offices in the next succeeding
12-month period. Thereafter, any additional banking offices may
be approved in accordance with law; and

(vii) Establish a local Maryland Citizens'
Advisory Board, the majority of the members of which shall be
Maryland residents.

(2)  A bank, its out-of-state bank holding company, or
its subsidiary that is subject to the provisions of this section
may not exercise any rights afforded to a Maryland bank, a
Maryland bank holding company, or an out-of-state bank holding
company under any Maryland law authorizing reciprocal interstate
banking acquisitions until such time as national reciprocal
interstate banking is authorized under State law.

(3)  The exercise of the authority under an exemption
granted under this subsection may not commence until after July
1, 1986 and until the Commissioner finds that at least 250