HARRY HUGHES, Governor

87

persons, not including employees engaged in construction or
related activities, are employed full time at the facility in the
enterprise zone or are being trained in Maryland for employment
in that facility provided that construction of the facility is
significantly advanced.

(4)  (i) The Commissioner may, after consultation with
the Secretaries of Economic and Community Development and
Employment and Training, waive the requirements relating to
location in an enterprise zone.

(ii) Any waiver of the enterprise zone
requirement shall be conditioned on the employment of 750 persons
at the facility.

(5)  (i) Nothing in this subtitle may be construed to
enlarge any existing authority under State or federal law with
respect to allowing any person regulated under this article to
engage in this State in the insurance business, as defined in
Article 48A of the Code.

(ii) The provisions of subparagraph (i) of this
paragraph do not apply to any credit-related life, credit-related
accident, and credit-related health insurance directly related to
banking activities engaged in by a person regulated under this

article.

5-909.

(A) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION,

THE PROVISIONS OF THIS SUBTITLE THAT AUTHORIZE EXEMPTIONS TO §

5-903(B) OF THIS SUBTITLE ARE ONLY IN EFFECT TO THE EFFECTIVE
DATE OF THIS ACT.

(B) A BANK THAT HAS BEEN GRANTED A CERTIFICATE OF AUTHORITY
TO DO BUSINESS AS A BANK UNDER § 5-903(B) OF THIS SUBTITLE BY THE
COMMISSIONER OR ITS EQUIVALENT BY THE COMPTROLLER OF THE CURRENCY
AND IS ELIGIBLE TO APPLY FOR AN EXEMPTION UNDER § 5-903(C) OF
THIS SUBTITLE PRIOR TO THE EFFECTIVE DATE OF THIS ACT IS
AUTHORIZED TO APPLY FOR AN EXEMPTION UNDER § 5-903(C) OF THIS
SUBTITLE AND SHALL REMAIN SUBJECT TO THE REQUIREMENTS, TERMS, AND
CONDITIONS FOR AN EXEMPTION THAT WERE IN EFFECT PRIOR TO THE
EFFECTIVE DATE OF THIS ACT.

5-910.

EXCEPT AS PROVIDED IN § 5-909(B) OF THIS SUBTITLE, THE
PERIOD OF TIME A BANK OPERATES UNDER A CERTIFICATE OF AUTHORITY
TO DO BUSINESS AS A BANK UNDER § 5-903(B) OF THIS SUBTITLE
GRANTED BY THE COMMISSIONER OR ITS EQUIVALENT BY THE COMPTROLLER
OF THE CURRENCY DURING THE EFFECTIVE PERIOD OF § 5-909 OF THIS
SUBTITLE SHALL NOT BE INCLUDED FOR PURPOSES OF MEETING THE
6-MONTH REQUIREMENT PROVIDED IN § 5-904(A) OF THIS SUBTITLE.

5-911.