WILLIAM DONALD SCHAEFER, Governor                   Ch. 662

(v) Until such time as national reciprocal
interstate banking is authorized under State law, agree not to
acquire or hold, directly or indirectly, any voting shares of,
any interest in, or all or substantially all of the assets of any
other Maryland bank or Maryland bank holding company, regardless
of the date of the charter of the Maryland bank or Maryland bank
holding company;

(vi) Not established more than 10 offices open
to the public to conduct banking business, in accordance with
this article, during the 12-month period following the finding of
the Commissioner required under subsection (c)(3) of this section
and not more than 10 additional offices in the next succeeding
12-month period. Thereafter, any additional banking offices may
be approved in accordance with law; and

(vii) Establish a local Maryland Citizens'
Advisory Board, the majority of the members of which shall be
Maryland residents.

(2)  A bank, its out-of-state bank holding company, or
its subsidiary that is subject to the provisions of this section
may not exercise any rights afforded to a Maryland bank, a
Maryland bank holding company, or an out-of-state bank holding
company under any Maryland law authorizing reciprocal interstate
banking acquisitions until such time as national reciprocal
interstate banking is authorized under State law.

(3)  The exercise of the authority under an exemption
granted under this subsection may not commence until after July
1, 1986 and until the Commissioner finds that at least 250
persons, not including employees engaged in construction or
related activities, are employed full time at the facility in the
enterprise zone or are being trained in Maryland for employment
in that facility provided that construction of the facility is
significantly advanced.

(4)  (i) The Commissioner may, after consultation with
the Secretary of Economic and Employment Development, waive the
requirements relating to location in an enterprise zone.

(ii) Any waiver of the enterprise zone
requirement shall be conditioned on the employment of 750 persons
at the facility.

(5)  (i) Nothing in this subtitle may be construed to
enlarge any existing authority under State or federal law with
respect to allowing any person regulated under this article to
engage in this State in the insurance business, as defined in
Article 48A of the Code.

(ii) The provisions of subparagraph (i) of this
paragraph do not apply to any credit-related life, credit-related

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