H.B. 1328                                                     VETOES

(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

(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:

- 4364 -