Ch. 544                                    LAWS OF MARYLAND

CHAPTER 544

(House Bill 1185)

AN ACT concerning

Regional Reciprocal Interstate Savings and Loan Acquisitions

FOR the purpose of authorizing mergers and acquisitions of
savings and loan associations, savings banks, and savings
and loan holding companies in Maryland by and with
out-of-state savings and loan associations, savings banks,
and savings and loan holding companies subject to the
approval of the Director of the Division of Savings and Loan
Associations; defining certain terms; prohibiting the
Division Director from approving any acquisition under this
Act unless the Division Director makes certain findings;
requiring the division Director to give priority
consideration to a plan for acquisition of certain savings
and loan associations; providing certain conditions and
limitations on the operation of regional associations in
this State; requiring divestiture in certain circumstances;
authorizing the Division Director to adopt certain
regulations and to generally supervise acquisitions made
under this Act; providing the Division Director with certain
regulatory powers; providing for the applicability of
certain laws and regulations; providing for interstate and
interagency cooperation; providing for certain penalties;
providing for a limited nonseverability of provisions; and
generally relating to regional reciprocal savings and loan
association acquisitions and mergers.

BY repealing and reenacting, with amendments,

Article - Financial Institutions
Section 9-627, 9-628, 9-630, and 9-802
Annotated Code of Maryland
(1986 Replacement Volume)

BY repealing and reenacting, without amendments,

Article - Financial Institutions
Section 9-801

Annotated Code of Maryland
(1986 Replacement Volume)

BY adding to

Article - Financial Institutions

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