ROBERT L. EHRLICH, JR., Governor                             Ch. 342

Article 24 - Political Subdivisions - Miscellaneous Provisions

9-506.

(a) (1) EACH YEAR THE GOVERNING BODY OF A COUNTY OR THE
GOVERNING BODY'S DESIGNEE SHALL NOTIFY OFFICIALS OF MUNICIPAL
CORPORATIONS AND OFFICIALS OF OTHER COUNTIES RECEIVING COAL TAX
REVENUES THAT THE OFFICIALS MAY REQUEST A MEETING WITH THE GOVERNING
BODY OR DESIGNEE.

(2) [The] ON REQUEST, THE governing body of a county or the governing
body's designee shall meet and confer annually with officials of municipal
corporations and with officials of any other county receiving coal tax revenues.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2004.

Approved May 11, 2004.

CHAPTER 342
(House Bill 423)

AN ACT concerning

Banking Institutions - Savings Banks

FOR the purpose of authorizing a savings bank to have any banking institution in
this State, any other bank in this State, or any State or federal savings and loan
association in this State merge into the savings bank if the Commissioner, after
receiving the advice of the Banking Board, gives written consent to the
transaction; requiring a plan of reorganization of a savings bank to provide that
as a result of the reorganization, the mutual holding company shall hold more
than a certain percentage of the stock of the subsidiary savings bank;
prohibiting the Commissioner of Financial Regulation in the Department of
Labor, Licensing, and Regulation from approving an application for
reorganization unless the Commissioner determines that if the reorganization is
pursuant to an acquisition by the mutual holding company of all the stock of a
savings and loan association, then certain conditions are met; requiring that a
mutual holding company hold more than a certain percentage of the stock of a
subsidiary savings bank or savings and loan association; requiring the articles
of incorporation of a subsidiary savings bank to include a statement that more
than a certain percentage of the shares of capital stock issued be held by the
mutual holding company; altering a certain definition; and generally relating to
savings banks.

BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 4-101(d), 4-701(b), 4-802(c), 4-803(e), 4-804(c), and 4-902(b)

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