Ch. 213                                        1995 LAWS OF MARYLAND

5-1013.

(A)     EXCEPT AS PROVIDED IN THIS SECTION, THE COMMISSIONER MAY NOT
APPROVE A TRANSACTION RESULTING IN THE ESTABLISHMENT OF A BRANCH OR
BRANCHES BY AN OUT OF STATE A BANK, OTHER THAN A DE NOVO BRANCH, 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 THIS STATE.

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

5-1010. 5-1014.

(A)     AN OUT-OF-STATE BANK THAT PROPOSES TO ESTABLISH A BRANCH IN
THIS STATE:

(1)      SHALL QUALIFY UNDER § 7-203 OF THE CORPORATIONS AND
ASSOCIATIONS ARTICLE TO DO BUSINESS IN THE STATE AS A FOREIGN
CORPORATION; AND

(2)      WITHIN 15 DAYS OF FILING A BRANCH APPLICATION WITH THE
APPROPRIATE BANK SUPERVISORY AGENCY, SHALL PROVIDE THE BANK
COMMISSIONER WITH A COPY OF THE BRANCH APPLICATION.

(B)     AN OUT-OF-STATE BANK THAT DOES NOT HAVE A BRANCH IN THIS STATE
ON SEPTEMBER 29, 1995, MAY NOT ACQUIRE AN EXISTING ESTABLISH A BRANCH IN
THIS STATE BEFORE JUNE 1, 1997, UNLESS THE LAWS OF THAT BANK'S HOME STATE
WOULD PERMIT A BANKING INSTITUTION TO ESTABLISH A BRANCH IN THAT STATE
UNDER SUBSTANTIALLY SIMILAR CONDITIONS AS THOSE IMPOSED BY THIS
SUBTITLE.

(C)     AN OUT-OF-STATE BANK THAT HAS A BRANCH IN THIS STATE MAY
ESTABLISH ADDITIONAL BRANCHES IN THIS STATE TO THE SAME EXTENT AS A
BANKING INSTITUTION OR TO THE EXTENT OTHERWISE PERMITTED BY FEDERAL
LAW.

5-1011.5-1015.

IF ANY PROVISION OF THIS SUBTITLE OR THE APPLICATION THEREOF TO ANY
PERSON OR CIRCUMSTANCE IS HELD INVALID FOR ANY REASON IN A COURT OF
COMPETENT JURISDICTION, THE INVALIDITY DOES NOT AFFECT OTHER PROVISIONS
OR ANY OTHER APPLICATION OF THIS SUBTITLE THAT CAN BE GIVEN EFFECT
WITHOUT THE INVALID PROVISION OR APPLICATION.

11-301.

(b) The licensing provisions of this subtitle do not apply to any of the following
persons, if organized under the laws of this State or otherwise qualified to do business in this
State:

(1) A banking institution;

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