Ch. 10                                      1996 LAWS OF MARYLAND

(2) § 3-607 ("Reserves"); AND

(3) [§ 5-501 ("New branches"); and

(4)] § 5-801 ("Removal of director or officer for unsafe or unsound
practices").

DRAFTER'S NOTE:

Error: Obsolete cross-reference in § 2-402 of the Financial Institutions
Article.

Occurred: As a result of Ch. 213, Acts of 1995.

3-701.

(b) "Bank" means a commercial bank, a national banking association, an
other-state bank, or a [federally-chartered] FEDERALLY CHARTERED savings bank or
savings and loan association.

DRAFTER'S NOTE:                                                                                   

Error: Misspelling in § 3-701(b) of the Financial Institutions Article.
Occurred: Ch. 72, Acts of 1994.
3-702.

(b)     If the successor will be a commercial bank:

(2) If one of the constituent banks is a national banking association or a
[federally-chartered] FEDERALLY CHARTERED savings bank or savings and loan
association, federal law governs its actions and the rights of its stockholders.

(c)     If the successor will be a national banking association or a
[federally-chartered] FEDERALLY CHARTERED savings bank or savings and loan
association:

(1)     Federal law governs:

(i) The actions of a constituent bank;

(ii) The rights of its stockholders; and

(iii) The effect of the consolidation, merger, or transfer of assets on its
rights, franchises, interests, and fiduciary duties; and

(2)     Except for this section and § 3-710 of this subtitle, the other provisions
of this subtitle do not apply to the consolidation, merger, or transfer of assets.

DRAFTER'S NOTE:

Error: Misspelling in § 3-702(b)(2) and (c) of the Financial Institutions
Article.

Occurred: Ch. 72, Acts of 1994.

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