WILLIAM DONALD SCHAEFER, Governor

Ch. 6

A.  All Maryland association subsidiaries
have been in existence and continuously operated for more than 4
years; and

B.  All interstate association
subsidiaries have deposit-taking offices that have been
continuously operated in Maryland for more than 4 years[.];

(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 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]
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.

DRAFTER'S NOTE:

Error: Incorrect punctuation and punctuation omitted
in § 9-1003(a)(2) of the Financial Institutions
Article.

Occurred: Ch. 544, Acts of 1987.

9-1004.

(a) (1) An out-of-state association that has not acquired a
Maryland association or an interstate association is authorized
to acquire a Maryland association or an interstate association,
if the out-of-state association and entity being acquired:

(i) Comply with all applicable provisions of §
9-216 of this [article] TITLE;

(ii) Comply with all applicable provisions of
Title 9, Subtitle 6 of this article TITLE;

(iii) Comply with all applicable provisions of
Title 3, Subtitle 6 of the Corporations and Associations Article;

(iv) File an application for approval with the
Division Director containing information the Division Director
may by regulation require;

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