Ch. 544

LAWS OF MARYLAND

(I) THE LAWS OF THE JURISDICTION WHERE THE
OUT-OF-STATE ASSOCIATION HAS ITS PRINCIPAL PLACE OF BUSINESS
PERMIT MARYLAND ASSOCIATIONS TO ACQUIRE SAVINGS AND LOAN
ASSOCIATIONS IN THAT JURISDICTION;

       (II) THE LAWS OF THE JURISDICTION WHERE THE
OUT-OF-STATE ASSOCIATION HAS ITS PRINCIPAL PLACE OF BUSINESS
PERMIT THE OUT-OF-STATE ASSOCIATION TO BE ACQUIRED BY THE
MARYLAND ASSOCIATION SOUGHT TO BE ACQUIRED;

(III)  THE OUT-OF-STATE ASSOCIATION SEEKS TO
ACQUIRE:

i. A MARYLAND ASSOCIATION THAT HAS BEEN
IN EXISTENCE AND CONTINUOUSLY OPERATED FOR MORE THAN 2 4 YEARS;
OR

2. AN INTERSTATE ASSOCIATION THAT HAS
DEPOSIT-TAKING OFFICES WHICH HAVE BEEN CONTINUOUSLY OPERATED IN
MARYLAND FOR MORE THAN 2 4 YEARS; AND

(IV)  THE ACQUISITION IS SUBJECT TO ANY
ADDITIONAL CONDITIONS, RESTRICTIONS, REQUIREMENTS, OR OTHER
LIMITATIONS, INCLUDING WITHOUT LIMITATION ANY LONGEVITY
REQUIREMENTS, THAT APPLY TO THE ACQUISITION BY A MARYLAND
ASSOCIATION OF A SAVINGS AND LOAN ASSOCIATION IN THE JURISDICTION
WHERE THE OUT-OF-STATE ASSOCIATION HAS ITS PRINCIPAL PLACE OF
BUSINESS, BUT DO NOT APPLY TO ACQUISITIONS BY SAVINGS AND LOAN
ASSOCIATIONS ALL OF WHOSE DEPOSIT-TAKING OFFICES ARE LOCATED IN
THAT JURISDICTION.

(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 ASSOCIATION;

(II)  THE FUTURE PROSPECTS OF THE MARYLAND
ASSOCIATION OR INTERSTATE ASSOCIATION THAT WILL BE ACQUIRED;

(III)  THE FINANCIAL HISTORY AND FUTURE
PROSPECTS OF THE OUT-OF-STATE ASSOCIATION;

(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.

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