WILLIAM DONALD SCHAEFER, Governor                   Ch. 544

(N) "SAVINGS AND LOAN ASSOCIATION":

(1)  MEANS A CORPORATION THAT IS CHARTERED UNDER THE
LAWS OF THE UNITED STATES OR ANY STATE AS A SAVINGS AND LOAN
ASSOCIATION, BUILDING ASSOCIATION, OR SAVINGS BANK, WHETHER
ORGANIZED AS A CAPITAL STOCK ASSOCIATION OR A MUTUAL ASSOCIATION;
AND

(2)  DOES NOT INCLUDE A SAVINGS BANK ORGANIZED UNDER
TITLE 4 OF THIS ARTICLE.

(O) "SAVINGS AND LOAN HOLDING COMPANY" MEANS A COMPANY
WHICH THAT CONTROLS A SAVINGS AND LOAN ASSOCIATION OR CONTROLS
ANY OTHER COMPANY WHICH IS A SAVINGS AND LOAN HOLDING COMPANY.

(P) "SUBSIDIARY" MEANS A COMPANY WHICH THAT A SAVINGS AND
LOAN ASSOCIATION OR SAVINGS AND LOAN HOLDING COMPANY CONTROLS.

9-1002.

(A)  THIS SUBTITLE SETS FORTH THE CONDITIONS UNDER WHICH AN
OUT-OF-STATE ASSOCIATION OR OUT-OF-STATE SAVINGS AND LOAN HOLDING
COMPANY MAY ACQUIRE A MARYLAND ASSOCIATION, A MARYLAND SAVINGS
AND LOAN HOLDING COMPANY, AN INTERSTATE ASSOCIATION, OR AN
OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY HAVING A MARYLAND
ASSOCIATION SUBSIDIARY.

(B)  THIS SUBTITLE DOES NOT AUTHORIZE ANY ACQUISITION OTHER
THAN AN ACQUISITION BY AN OUT-OF-STATE ASSOCIATION OR AN
OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY.

9-1003.

(A) (1) AN OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY
NOT HAVING A MARYLAND ASSOCIATION SUBSIDIARY IS AUTHORIZED TO
ACQUIRE A MARYLAND ASSOCIATION, A MARYLAND SAVINGS AND LOAN
HOLDING COMPANY, AN INTERSTATE ASSOCIATION, OR AN OUT-OF-STATE
SAVINGS AND LOAN HOLDING COMPANY HAVING A MARYLAND ASSOCIATION
SUBSIDIARY, IF THE OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY
AND ENTITY BEING ACQUIRED:

(I)  COMPLY WITH ALL APPLICABLE PROVISIONS OF §
9-216 OF THIS ARTICLE;

(II)  COMPLY WITH ALL APPLICABLE PROVISIONS OF
TITLE 3, SUBTITLE 6 OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE;

(III)  FILE AN APPLICATION FOR APPROVAL WITH THE
DIVISION DIRECTOR CONTAINING INFORMATION THE DIVISION DIRECTOR
MAY BY REGULATION REQUIRE;

(IV)  SUBMIT WITH THE APPLICATION:

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