Ch. 326                                    1996 LAWS OF MARYLAND

(c) (1) Subject to the limitations in paragraphs (2) and (3) of this subsection, a
banking institution may hold any real property that the banking institution acquires:

(i) In satisfaction of a debt contracted in the course of its business; or

(ii) At sale on a judgment, decree, or mortgage foreclosure under a
security that it holds.

(2)     At a sale, a banking institution may not bid more than the amount of
money that is necessary to satisfy the secured debts and costs.

(3)     A banking institution:

(i) May not hold property acquired under this subsection for more
than:

1.       8 years; and

2.       Under conditions that the [Bank] Commissioner sets, 2
additional years; and

(ii) Within 1 year after that period, shall:

1.       Sell the property; or

2.       Reduce the value of the property on its books to a value that
the [Bank] Commissioner approves.

5-504.

(a)     Notwithstanding any other provision of Titles 1 through 5 of this article, if the
[Bank] Commissioner approves, banking institutions may engage in any additional
banking activity or bank-related service in which, under federal law, national banking
associations may engage.

(b)     The [Bank] Commissioner may approve an additional activity or
bank-related service only if:

(1)     The [Bank] Commissioner determines that approval is:

(i) Reasonably required to protect the welfare of the general economy
of this State and of banking institutions; and

(ii) Not detrimental to the public interest or to banking institutions;
and

(2)     The approval imposes the same conditions that federal law requires or
permits as to national banking associations.

5-511.

(a) Banking institutions may not have common directors unless the [Bank]
Commissioner finds that a common directorship is in the public interest and not
detrimental to either banking institution.

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