Ch. 213                                        1995 LAWS OF MARYLAND

(2) MAY RESULT IN AN UNDUE CONCENTRATION OF RESOURCES OR A
SUBSTANTIAL REDUCTION OF COMPETITION IN THE STATE.

(B) EXCEPT AS PROVIDED IN THIS SECTION, THE COMMISSIONER MAY NOT
APPROVE AN ACQUISITION IF ON CONSUMMATION OF THE TRANSACTION THE
APPLICANT, INCLUDING ANY INSURED DEPOSITORY INSTITUTION AFFILIATE OF
THE APPLICANT, WOULD CONTROL 30 PERCENT OR MORE OF THE TOTAL AMOUNT
OF DEPOSITS OF INSURED DEPOSITORY INSTITUTIONS IN THE STATE.

(C) THE COMMISSIONER MAY BY REGULATION ADOPT A PROCEDURE BY
WHICH THE 30 PERCENT DEPOSIT LIMIT MAY BE WAIVED FOR GOOD CAUSE.

5-906.

(A)     THE COMMISSIONER SHALL DECIDE WHETHER TO APPROVE AN
APPLICATION UNDER § 5-904 OF THIS SUBTITLE WITHIN 60 DAYS OF RECEIPT OF A
COMPLETED APPLICATION.

(B)     AN APPLICATION SHALL BE DEEMED APPROVED IF THE COMMISSIONER
TAKES NO ACTION ON THE APPLICATION WITHIN THE TIME LIMITS SPECIFIED IN
THIS SECTION.

5-907.

(A)     TO THE EXTENT SPECIFIED BY THE COMMISSIONER BY REGULATION OR
WRITTEN REQUEST, EACH BANK HOLDING COMPANY THAT CONTROLS A
MARYLAND BANK OR A MARYLAND BANK HOLDING COMPANY SHALL SUBMIT TO
THE COMMISSIONER:

(1) COPIES OF REPORTS FILED FOR THE PRECEDING CALENDAR YEAR
WITH A BANK SUPERVISORY AGENCY BY EACH MARYLAND BANK CONTROLLED BY
THE BANK HOLDING COMPANY; AND

(2) A REPORT SPECIFYING AS OF THE END OF THE PRECEDING
CALENDAR YEAR, FOR EACH BRANCH OF EACH MARYLAND BANK CONTROLLED BY
THE BANK HOLDING COMPANY:

(I) THE LOCATION; AND

(II) THE AMOUNT OF DEPOSITS HELD.

(B)     THE REPORTS SPECIFIED IN SUBSECTION (A) OF THIS SECTION:

(1) MAY CONSIST OF A COPY OF A REPORT FILED WITH ANOTHER BANK
SUPERVISORY AGENCY THAT CONTAINS SUBSTANTIALLY SIMILAR INFORMATION;
AND

(2) MAY NOT BE REQUESTED BY THE COMMISSIONER UNLESS THE
COMMISSIONER DETERMINES THAT THE INFORMATION IS NOT AVAILABLE FROM
ANOTHER BANK SUPERVISORY AGENCY.

- 2006 -