1380                                          LAWS OF MARYLAND                                      Ch. 355

(E) (1) EXCEPT AS PROVIDED IN SUBSECTION (F) OF THIS
SECTION, THE BANK COMMISSIONER SHALL PUBLISH A NOTICE OF FILING
OF THE APPLICATION FOR APPROVAL OF THE PLAN OF REORGANIZATION.

(2) THE NOTICE OF FILING OF APPLICATION SHALL BE
PUBLISHED IN THE MARYLAND REGISTER AS PROVIDED IN THE STATE
DOCUMENTS LAWS.

(F) SUBJECT TO CONFIRMATION BY THE SECRETARY OF LICENSING
AND REGULATION, THE BANK COMMISSIONER MAY APPROVE AN APPLICATION
WITHOUT PUBLICATION OF THE NOTICE OF FILING OF APPLICATION IN THE
MARYLAND REGISTER IF:

(1) THE FINANCIAL CONDITION OR STABILITY OF ONE OF
THE PARTIES TO THE PROPOSED REORGANIZATION IS SUCH THAT A DELAY
OF THE PROPOSED REORGANIZATION WILL CAUSE AN ECONOMIC HARDSHIP TO
THE PARTY; AND

(2) APPROVAL OF THE APPLICATION IS IN THE PUBLIC
INTEREST.

4-803.

(A) THE SAVINGS BANK SHALL;

(1) FILE WITH THE BANK COMMISSIONER FOR EXAMINATION
THE APPLICATION FOR APPROVAL OF REORGANIZATION; AND

(2) AT THE TIME OF FILING OF AN APPLICATION FOR
APPROVAL OF REORGANIZATION, PAY TO THE BANK COMMISSIONER A FEE OF
$1,500.

(B) THE BANK COMMISSIONER SHALL INVESTIGATE THE PROPOSED
ARTICLES OF INCORPORATION OF THE SUBSIDIARY SAVINGS BANK AND
DETERMINE IF:

(1) THE ARTICLES ARE FRAMED IN ACCORDANCE WITH LAW;

(2) THE CHARACTER, RESPONSIBILITY, AND GENERAL

FITNESS OF THE INCORPORATORS AND DIRECTORS NAMED IN THE ARTICLES
COMMAND CONFIDENCE AND WARRANT BELIEF THAT THE BUSINESS OF THE
PROPOSED SUBSIDIARY SAVINGS BANK WILL BE CONDUCTED HONESTLY AND
EFFICIENTLY IN ACCORDANCE WITH THE INTENT OF THIS ARTICLE; AND

(3) ALLOWING THE PROPOSED SUBSIDIARY SAVINGS BANK TO
ENGAGE IN BUSINESS:

ADVANTAGE; AND

(I) WILL PROMOTE PUBLIC CONVENIENCE AND

(II) IS EXPEDIENT AND DESIRABLE.

(C) AFTER INVESTIGATING THE PROPOSED ARTICLES OF

INCORPORATION OF THE SUBSIDIARY SAVINGS BANK, THE BANK