1298

LAWS OF MARYLAND

Ch. 325

(ii) The laws of the jurisdiction where the
out-of-state bank holding company has its principal place of
business permit the out-of-state bank holding company to be
acquired by the Maryland bank holding company or Maryland bank
sought to be acquired;

(iii) The out-of-state bank holding company
seeks to acquire:

1. A de novo Maryland bank that:

A.  Has or will have on the date banking
business is commenced in this State a minimum capital stock and
paid-in surplus of $10,000,000 and will have within 1 year of the
date banking business is commenced in this State, a minimum
capital stock and paid-in surplus of $25,000,000;

B.  Employs on the date its banking
business is commenced in this State or will employ within 1 year
of that date not less than 100 persons in this State;

C.  Is sought to be acquired by an
out-of-state bank holding company having its principal place of
business in a jurisdiction permitting Maryland bank holding
companies to acquire a newly organized bank located in that
jurisdiction that has not commenced any part of its banking
business; and

D.  Has not been chartered prior to July
1, 1989.

2.  A Maryland bank that has been in
existence and continuously operated for more than [4] 2 3
years;

3.  A Maryland bank holding company in
which all Maryland bank subsidiaries have been in existence and
continuously operated for more than 4 years; or

4.  An out-of-state bank holding company
in which all Maryland bank subsidiaries have been in existence
and continuously operated for more than 4 years; and

(iv) The acquisition, is subject to 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.

(3) For purposes of item (ii) of this paragraph, a
Maryland bank shall be considered to be a Maryland bank holding
company.