162

LAWS OF MARYLAND

Ch. 11

OTHERWISE DETERMINED IN WRITING BY THE FUND DIRECTOR TO BE IN THE
BEST FINANCIAL INTEREST OF THE FUND;

(1)  Defend, indemnify, and hold harmless the State of
Maryland, its agencies, instrumentalities, officials, agents and
employees from all claims of:

(i) Holders of savings accounts in that savings
and loan association arising out of insurance of their accounts
by the Maryland Savings-Share Insurance Corporation or the State
of Maryland Deposit Insurance Fund Corporation; and

(ii) Parties to loan agreements, loan
commitments, lines of credit, or letters of credit of that
savings and loan association arising solely out of the failure of
the commercial bank to honor within a reasonable period of time
after its acquisition by the out-of-state bank holding company
the terms of a legally binding written commitment entered into by
that savings and loan association;

(2)  Relinquish any right to and release the State of
Maryland Deposit Insurance Fund Corporation from any obligation
to return any part of the capital deposit required for membership
in the fund; and

(3)  Provide for repayment of any indebtedness
incurred by an acquired savings and loan association to the
former Maryland Savings-Share Insurance Corporation or the State
of Maryland Deposit Insurance Fund Corporation.

5-1108.

(A) THE COMMISSIONER SHALL CLOSELY MONITOR THE ACTIVITIES
OF EACH MERGER, CONVERSION, OR ACQUISITION MADE UNDER THIS
SUBTITLE AND REPORT TO THE GENERAL ASSEMBLY, AS PROVIDED UNDER §
2-1312 OF THE STATE GOVERNMENT ARTICLE, BY OCTOBER 1 OF EACH
YEAR, ON THE EFFECTS OF EMERGENCY INTERSTATE ACQUISITIONS.

(B) THE REPORT SHALL INCLUDE, AT A MINIMUM;

(1) AN EVALUATION OF THE COMPLIANCE IN REGARD TO THE
INFORMATION IN THE PLAN OF ACQUISITION SUBMITTED UNDER §
5-1103(B) OF THIS SUBTITLE;

(2) ANY OTHER INFORMATION THE COMMISSIONER MAY
CONSIDER RELEVANT OR THAT THE GENERAL ASSEMBLY MAY REQUEST;

(3) THE NUMBER OF APPLICATIONS SUBMITTED, APPROVED,
AND DENIED; AND

(4) THE IMPACT OF EMERGENCY INTERSTATE ACQUISITIONS
ON EXISTING FINANCIAL INSTITUTIONS.

9-101.