PARRIS N. GLENDENING, Governor

Ch. 213

5-903.

(A)     EXCEPT AS OTHERWISE EXPRESSLY PERMITTED BY FEDERAL LAW, NO
BANK HOLDING COMPANY MAY ACQUIRE A MARYLAND BANK HOLDING COMPANY
OR A MARYLAND BANK WITHOUT THE APPROVAL OF THE COMMISSIONER.

(B)     THE PROHIBITION IN SUBSECTION (A) OF THIS SECTION SHALL NOT APPLY
WHERE THE ACQUISITION IS MADE:

(1) SOLELY FOR THE PURPOSE OF FACILITATING AN ACQUISITION
OTHERWISE PERMITTED UNDER THIS SUBTITLE;

(2)      IN A TRANSACTION ARRANGED BY THE COMMISSIONER OR
ANOTHER BANK SUPERVISORY AGENCY TO PREVENT THE INSOLVENCY OR CLOSING
OF THE ACQUIRED BANK; OR

(3)      IN A TRANSACTION IN WHICH A BANK FORMS ITS OWN BANK
HOLDING COMPANY, IF THE OWNERSHIP RIGHTS OF THE FORMER BANK
SHAREHOLDERS ARE SUBSTANTIALLY SIMILAR TO THOSE OF THE SHAREHOLDERS
OF THE NEW HOLDING COMPANY.

(C)     IN A TRANSACTION FOR WHICH THE COMMISSIONER'S APPROVAL IS NOT
REQUIRED UNDER THIS SECTION, THE PARTIES SHALL GIVE WRITTEN NOTICE TO
THE COMMISSIONER AT LEAST 15 DAYS BEFORE THE EFFECTIVE DATE OF THE
ACQUISITION.
(A) A BANK HOLDING COMPANY THAT PROPOSES TO MAKE AN ACQUISITION

UNDER THIS SUBTITLE SHALL;

(1) FILE WITH THE COMMISSIONER AN APPLICATION IN THE FORM
THAT THE COMMISSIONER REQUIRES;

(2)      PAY TO THE COMMISSIONER AN APPLICATION FEE OF $1,500; AND

(3)      SUBMIT PROOF THAT THE APPLICANT HAS COMPLIED WITH ALL
PUBLIC NOTICE AND PUBLICATION REQUIREMENTS APPLICABLE UNDER THE BANK
HOLDING COMPANY ACT.

(B) TO THE EXTENT CONSISTENT WITH THE EFFECTIVE DISCHARGE OF THE
COMMISSIONER'S RESPONSIBILITIES, THE FORMS ESTABLISHED UNDER THIS
SUBTITLE FOR APPLICATION, NOTICE, AND REPORTING SHALL CONFORM TO THOSE
ESTABLISHED UNDER THE BANK HOLDING COMPANY ACT.

5-905.

(A) IN DECIDING WHETHER TO APPROVE AN APPLICATION UNDER § 5-904 OF
THIS SUBTITLE, THE COMMISSIONER SHALL CONSIDER WHETHER THE ACQUISITION:

(1) MAY BE DETRIMENTAL TO THE SAFETY AND SOUNDNESS OF THE
MARYLAND BANK OR MARYLAND BANK HOLDING COMPANY TO BE ACQUIRED; OR

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