Ch. 544

LAWS OF MARYLAND

(D) THE PERIOD OF EXISTENCE OF ANY DEPOSIT-TAKING
INSTITUTION WHICH HAS MERGED INTO, CONSOLIDATED WITH, CONVERTED
INTO, TRANSFERRED ALL OR SUBSTANTIALLY ALL OF ITS ASSETS TO, OR
BEEN A PARTY TO ANY OTHER FORM OF A CORPORATE REORGANIZATION WITH
ANOTHER SAVINGS AND LOAN ASSOCIATION SHALL BE INCLUDED IN THE
PERIOD OF EXISTENCE AND CONTINUOUS OPERATION OF THE SUCCESSOR
MARYLAND ASSOCIATION FOR PURPOSES OF SATISFYING THE LONGEVITY
REQUIREMENTS OF THIS SECTION.

9-1005.

(A)  EXCEPT AS EXPRESSLY PERMITTED BY FEDERAL LAW OR TITLE
5, SUBTITLE 11 OF THIS ARTICLE, A SAVINGS AND LOAN ASSOCIATION OR
SAVINGS AND LOAN HOLDING COMPANY THAT IS NOT A MARYLAND
ASSOCIATION, AN INTERSTATE ASSOCIATION, AN OUT-OF-STATE
ASSOCIATION, A MARYLAND SAVINGS AND LOAN HOLDING COMPANY, AN
OUT-OF-STATE ASSOCIATION, OR AN OUT-OF-STATE SAVINGS AND LOAN
HOLDING COMPANY MAY NOT 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)  (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, IF A MARYLAND ASSOCIATION, INTERSTATE ASSOCIATION,
MARYLAND SAVINGS AND LOAN HOLDING COMPANY, OR OUT-OF-STATE
SAVINGS AND LOAN HOLDING COMPANY CEASES TO BE A MARYLAND
ASSOCIATION, INTERSTATE ASSOCIATION, MARYLAND SAVINGS AND LOAN
HOLDING COMPANY, OR OUT-OF-STATE SAVINGS AND LOAN- HOLDING
COMPANY, AS DEFINED IN THIS SUBTITLE, THE ASSOCIATION OR SAVINGS
AND LOAN HOLDING COMPANY SHALL, WITHIN 2 YEARS, DIVEST ITSELF OF
ALL DEPOSIT-TAKING OFFICES IN MARYLAND, MARYLAND ASSOCIATIONS,
AND MARYLAND SAVINGS AND LOAN HOLDING COMPANIES.

(2) A MARYLAND ASSOCIATION, AN INTERSTATE
ASSOCIATION, A MARYLAND SAVINGS AND LOAN HOLDING COMPANY, OR AN
OUT-OF-STATE SAVINGS AND LOAN HOLDING COMPANY MAY NOT BE REQUIRED
TO DIVEST ITS DEPOSIT-TAKING OFFICES IN MARYLAND, MARYLAND
ASSOCIATIONS, OR MARYLAND SAVINGS AND LOAN HOLDING COMPANIES IF:

(I)  AN INSTITUTION IN ANOTHER JURISDICTION NOT
WITHIN THE REGION IS ACQUIRED UNDER § 116 OR § 123 OF THE
GARN-ST. GERMAIN DEPOSITORY INSTITUTIONS ACT OF 1982, AS AMENDED,
12 U.S.C. § 1730A(M) OR 12 U.S.C. § 1823(F), RESPECTIVELY;

(II)  A SAVINGS AND LOAN ASSOCIATION OR SAVINGS
AND LOAN HOLDING COMPANY HAVING DEPOSIT-TAKING OFFICES IN A
JURISDICTION OTHER THAN WITHIN THE REGION IS ACQUIRED IN THE
REGULAR COURSE OF SECURING OR COLLECTING A DEBT PREVIOUSLY
CONTRACTED IN GOOD FAITH, AND THE SAVINGS AND LOAN ASSOCIATION OR
SAVINGS AND LOAN HOLDING COMPANY DIVESTS THE SECURITIES OR ASSETS
ACQUIRED WITHIN 2 YEARS OF THE DATE OF ACQUISITION; OR

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