Ch. 544

LAWS OF MARYLAND

(2) A savings and loan association incorporated under
the laws of the United States that has its principal office in
this State.

9-802.

(a)  Except as provided under subsection (b) of this
section, a foreign association or a savings and loan association
that maintains its principal office outside this State may not:

(1)  Have an office for business in this State except
for an office that was open for business in this State before
June 1, 1955;

(2)  Have an electronic terminal in this State; or

(3)  Be admitted to do business in this State.

(b)  The prohibitions under subsection (a) of this section
may not apply to any foreign association that:

(1) (I) In furtherance of an agreement with the State
of Maryland Deposit Insurance Fund Corporation ENTERED INTO on or
before January 1, 1987, becomes a successor in interest to an
association that:

[(i)] 1. Was not federally insured on or before
May 18, 1985;

[(ii)] 2. Was a "major association", as defined
under Title 10 of this article, on or before May 19, 1985; and

                              [(iii)] 3. Is not federally insured on or

before April 1, 1986; and

[(2)] (II) Operates the association as a federal
association in this State.;

(2)  MAKES AN ACQUISITION IN ACCORDANCE WITH THE
PROVISIONS OF SUBTITLE 10 OF THIS TITLE; OR

(3)  WAS OPERATING AN OFFICE FOR BUSINESS IN THIS
STATE ON JULY 1, 1987 IN ACCORDANCE WITH APPLICABLE STATE OR
FEDERAL LAW.

9-805.

EXCEPT FOR A FOREIGN ASSOCIATION INCORPORATED UNDER THE LAWS
OF THE UNITED STATES, THE DIVISION DIRECTOR MAY EXAMINE THE
MARYLAND OFFICES OF ANY FOREIGN ASSOCIATION AS PROVIDED IN
SUBTITLE 5 OF THIS TITLE.

SUBTITLE 10. REGIONAL RECIPROCAL INTERSTATE

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