Ch. 326

1996 LAWS OF MARYLAND

(3)     If sufficient creditors apply, the court shall:

(i) Determine the present cash value of the nonapproving party's
interest on the basis of a judicial liquidation of the banking institution and order payment
to the party of that amount, in money or in kind; or

(ii) Apportion to the nonapproving party a distributive share in the
assets of the banking institution.

(4)     If the court apportions the assets of the banking institution:

(i) Assets divisible in kind shall be apportioned between the
institution and the nonapproving parties; and

(ii) Assets not divisible in kind shall be apportioned by allotting to the
nonapproving parties shares of stock, securities, or certificates of interest that are issued
by a corporation or trustee and that represent the nonapproving parties' interests in the
indivisible assets, and the entire amount allotted to the nonapproving parties shall be
delivered and paid to the receiver for liquidation for their benefit.

(e) Within 10 days after the final decision of the court, the proponents of the plan

of reorganization may abandon it.

5-703.             

(b) The [Bank] Commissioner may approve the operation of a branch that is
open for business fewer days than described in subsection (a) of this section if the
[Bank] Commissioner determines that: .

(1)     The branch will serve a customer base or community that has unique
banking needs;

(2)     At least 1 other branch of the banking institution is open for business as
described in subsection (a) of this section; and

(3)     The operation of the branch will not be detrimental to the public
interest or to banking institutions.

5-801.

(a)     If the [Bank] Commissioner believes that a director or officer of a banking
institution has engaged in an unsafe or unsound banking practice, the [Bank]
Commissioner shall send a warning to the director or officer.

(b)     (1) If the [Bank] Commissioner finds that the director or officer has
continued to engage in the unsafe or unsound practice, the [Bank] Commissioner, with
the advice of the Banking Board, may report the facts to the Secretary of Labor,
Licensing, and Regulation and the Attorney General.

(2) A copy of the report shall be sent by certified mail, return receipt
requested, bearing a postmark from the United States Postal Service, to each director of
the banking institution.

- 1950 -