WILLIAM DONALD SCHAEFER, Governor                    Ch. 544

ASSOCIATION OR A MARYLAND SAVINGS AND LOAN HOLDING COMPANY OF A
SAVINGS AND LOAN ASSOCIATION OR SAVINGS AND LOAN HOLDING COMPANY
IN THE JURISDICTION WHERE THE OUT-OF-STATE SAVINGS AND LOAN
HOLDING COMPANY HAS ITS PRINCIPAL PLACE OF BUSINESS BUT DO NOT
APPLY TO ACQUISITIONS BY SAVINGS AND LOAN ASSOCIATIONS ALL OF
WHOSE DEPOSIT-TAKING OFFICES, AND SAVINGS AND LOAN HOLDING
COMPANIES ALL OF WHOSE SAVINGS AND LOAN ASSOCIATION SUBSIDIARIES,
ARE LOCATED IN THAT JURISDICTION; AND

(V)     IF NECESSARY TO APPLY THE TEST REQUIRED BY

SUBPARAGRAPH (II) OF  THIS PARAGRAPH, A MARYLAND ASSOCIATION SHALL

BE TREATED AS IF IT WERE A MARYLAND SAVINGS AND LOAN HOLDING
COMPANY.

(3)  IN DECIDING WHETHER TO APPROVE AN ACQUISITION
UNDER SUBSECTION (A) OF THIS SECTION, THE DIVISION DIRECTOR SHALL
CONSIDER:

(I)  THE FINANCIAL AND MANAGERIAL RESOURCES OF
THE OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY;

(II)  THE FUTURE PROSPECTS OF THE MARYLAND
ASSOCIATION, MARYLAND SAVINGS AND LOAN HOLDING COMPANY,
INTERSTATE ASSOCIATION, OR MARYLAND SUBSIDIARY OF AN OUT-OF-STATE
SAVINGS AND LOAN HOLDING COMPANY THAT WILL BE ACQUIRED;

(III)  THE FINANCIAL HISTORY AND FUTURE
PROSPECTS OF THE OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY;

(IV)  WHETHER THE ACQUISITION MAY RESULT IN AN
UNDUE CONCENTRATION OF RESOURCES OR SUBSTANTIAL REDUCTION OF
COMPETITION IN THIS STATE; AND

(V)  INITIAL CAPITAL INVESTMENTS, LOAN POLICY,
INVESTMENT POLICY, DIVIDEND POLICY, AND THE GENERAL PLAN OF
BUSINESS, INCLUDING THE COST OF SERVICES TO BE OFFERED.

(4)  WHEN CONSIDERING LOAN POLICY AND THE GENERAL PLAN
OF BUSINESS UNDER PARAGRAPH (3)(V) OF THIS SUBSECTION, THE
DIVISION DIRECTOR SHALL:

(I)  CONSIDER SPECIFIC STEPS THAT WILL BE TAKEN
TO MEET THE HOME FINANCING NEEDS OF INDIVIDUALS IN THE COMMUNITY
TO BE SERVED, INCLUDING LOW AND MODERATE INCOME RESIDENTS
CONSISTENT WITH SAFE AND SOUND OPERATION OF THE INSTITUTION; AND

(II)  ASSESS THE RECORD, IF ANY, OF THE
APPLICANT IN MEETING THE CREDIT NEEDS OF THE COMMUNITIES SERVED
IN THE PAST, INCLUDING LOW AND MODERATE INCOME RESIDENTS,
CONSISTENT WITH THE SAFE AND SOUND OPERATION OF THE INSTITUTION.

(B) (1) AN OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY
HAVING A MARYLAND ASSOCIATION SUBSIDIARY, A MARYLAND SAVINGS AND

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