Ch. 544                                    LAWS OF MARYLAND

LOAN HOLDING COMPANY SUBSIDIARY, OR AN INTERSTATE ASSOCIATION
SUBSIDIARY IS AUTHORIZED TO ACQUIRE ANOTHER MARYLAND ASSOCIATION,
MARYLAND SAVINGS AND LOAN HOLDING COMPANY, INTERSTATE
ASSOCIATION, OR OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY
HAVING A MARYLAND ASSOCIATION SUBSIDIARY UPON APPROVAL BY THE
DIVISION DIRECTOR.

(2)  THE DIVISION DIRECTOR MAY NOT GRANT APPROVAL OF
AN ACQUISITION UNDER THIS SUBSECTION UNLESS THE DIVISION DIRECTOR
SHALL FIND THAT THE OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY
SEEKS TO ACQUIRE:

(I)  A MARYLAND ASSOCIATION THAT HAS BEEN IN
EXISTENCE AND CONTINUOUSLY OPERATED FOR MORE THAN 2 4 YEARS;

(II)  AN INTERSTATE ASSOCIATION THAT HAS
DEPOSIT-TAKING OFFICES WHICH HAVE BEEN CONTINUOUSLY OPERATED IN
MARYLAND FOR MORE THAN 2 4 YEARS; OR

(III)  A MARYLAND SAVINGS AND LOAN HOLDING
COMPANY OR AN OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY IN
WHICH:

1. ALL MARYLAND ASSOCIATION SUBSIDIARIES
HAVE BEEN IN EXISTENCE AND CONTINUOUSLY OPERATED FOR MORE THAN 2
4 YEARS; AND

2. ALL INTERSTATE ASSOCIATION
SUBSIDIARIES HAVE DEPOSIT-TAKING OFFICES WHICH HAVE BEEN
CONTINUOUSLY OPERATED IN MARYLAND FOR MORE THAN 2 4 YEARS.

(3)  THE APPROVAL BY THE DIVISION DIRECTOR SHALL BE
SUBJECT TO:

(I) THE LAWS AND REGULATIONS APPLICABLE TO THE
ACQUISITIONS OF MARYLAND ASSOCIATIONS AND MARYLAND SAVINGS AND
LOAN HOLDING COMPANIES BY A SAVINGS AND LOAN HOLDING COMPANY ALL
OF WHOSE SAVINGS AND LOAN ASSOCIATION SUBSIDIARIES ARE LOCATED IN
THIS STATE; AND

(II) ANY ADDITIONAL CONDITIONS, RESTRICTIONS,
REQUIREMENTS, OR OTHER LIMITATIONS, INCLUDING WITHOUT LIMITATION
ANY LONGEVITY REQUIREMENTS, THAT APPLY TO THE ACQUISITION BY 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 HOLDING COMPANIES ALL OF WHOSE
SAVINGS AND LOAN ASSOCIATION SUBSIDIARIES ARE LOCATED IN THAT
JURISDICTION.

(C) IF THE ACQUISITION HAS OTHERWISE BEEN APPROVED UNDER
THIS SUBTITLE, THIS SECTION DOES NOT PROHIBIT THE ACQUISITION BY

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