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LAWS OF MARYLAND

Ch. 11

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Financial Institutions

5-1101.

(b) "Acquire" means to assume ownership or control,
directly or indirectly, of any voting shares of, interest in, or
all or a substantial portion of the assets and liabilities,
including, UNLESS OTHERWISE DETERMINED IN WRITING BY THE DIRECTOR
OF THE STATE OF MARYLAND DEPOSIT INSURANCE FUND CORPORATION TO BE
IN THE BEST FINANCIAL INTEREST OF THE FUND, all savings accounts
liabilities THAT ARE INSURED BY THE FUND, TO THE EXTENT OF THE
INSURANCE, and liabilities to the State, of the following
institutions:

(1)  A savings and loan association;

(2)  A newly formed commercial bank chartered to
consummate a transaction with a savings and loan association
under this subtitle; or

(3)  A commercial bank that results from the
conversion of a savings and loan association.

(E) "MARYLAND BANK HOLDING COMPANY" MEANS A COMPANY THAT IS
DEFINED AS A BANK HOLDING COMPANY UNDER THE ACT AND THAT
CONDUCTED ITS PRINCIPAL BANKING BUSINESS IN MARYLAND ON JULY 1,
1966, OR ON THE DATE ON WHICH THE COMPANY BECAME A BANK HOLDING
COMPANY UNDER THE ACT, WHICHEVER OCCURRED LATER.

5-1101.1.

The provisions of this subtitle which authorize an
out-of-state bank holding company to acquire and hold certain
institutions are only in effect through June 1, 1986. Any
acquisition that was approved under this subtitle before June 1,
1986 remains subject to the terms and conditions that were in
effect before that date, INCLUDING THE AUTHORIZATIONS IN
SUBSECTIONS 5-1102(C) AND (D) OF THIS SUBTITLE.

5-1102.

(a) This subtitle sets forth the conditions under which an
out-of-state bank holding company may acquire and hold:

(1) One or more savings and loan associations to be
converted into one or more commercial banks; or

(2) One or more newly formed commercial banks that
have acquired or acquire one or more savings and loan
associations.