Ch. 6

LAWS OF MARYLAND

may by regulation require;

(iv) Submit with the application:

1.  The designation of a resident of this
State as the applicant's agent for the service of any paper,
notice, or legal process on the applicant in connection with
matters arising out of this subtitle; and

2.  A filing fee of $5,000; and

(v) Receive approval of the acquisition from
the Division Director.

DRAFTER'S NOTE:

Error: Stylistic error in § 9-1003(a)(l) of the
Financial Institutions Article.

Occurred: Ch. 544, Acts of 1987.

(2) The Division Director may not grant approval of
an acquisition under this subsection unless the Division Director
shall find:

(i) The laws of the jurisdiction where the
out-of-state savings and loan holding company has its principal
place of business permit Maryland savings and loan holding
companies to acquire savings and loan associations and savings
and loan holding companies in that jurisdiction;

(ii) The laws of the jurisdiction where the
out-of-state savings and loan holding company has its principal
place of business permit the out-of-state savings and loan
holding company to be acquired by the Maryland association,
Maryland savings and loan holding company, or interstate
association sought to be acquired;

(iii) The out-of-state savings and loan holding
company seeks to acquire:

1.  A Maryland association that has been
in existence and continuously operated for more than 4 years;

2.  An interstate association that has
deposit-taking offices which have been continuously operated in
Maryland for more than 4 years; or

3.  A Maryland savings and loan holding
company or an out-of-state savings and loan holding company in
which:

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