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Session Laws, 1985, May and October Special Sessions
Volume 761, Page 70   View pdf image
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70                                                 LAWS OF MARYLAND                                     Ch. 3

(2)  THE FUTURE PROSPECTS AND BUSINESS PLAN FOR THE
SUCCESSOR COMMERCIAL BANK;

(3)  THE FINANCIAL HISTORY AND FUTURE PROSPECTS OF THE
OUT-OF-STATE BANK HOLDING COMPANY;

(4)  THE IMPACT OF THE PROPOSED ACQUISITION ON
COMPETITION AND CONCENTRATION OF FINANCIAL RESOURCES IN THIS
STATE;

(5)  INITIAL CAPITAL INVESTMENTS, LOAN POLICY,
INVESTMENT POLICY, DIVIDEND POLICY, AND GENERAL PLAN OF BUSINESS,
INCLUDING THE AMOUNT AND COST OF CONSUMER AND BUSINESS SERVICES
TO BE OFFERED IN THIS STATE; AND

(6)  THE CORPORATE AND REGULATORY STEPS NECESSARY TO
CONSUMMATE THE ACQUISITION.

(C) (1) EXCEPT AS OTHERWISE PROVIDED BY LAW, ANY PERSON WHO
KNOWINGLY SUBMITS FALSE INFORMATION TO THE BANK COMMISSIONER
WHILE COMPLYING WITH THIS SECTION IS GUILTY OF A MISDEMEANOR.

(2) A PERSON WHO VIOLATES THIS SECTION IS SUBJECT TO
A FINE OF NOT MORE THAN $1,000, OR IMPRISONMENT FOR NOT MORE THAN
5 YEARS, OR BOTH.

(C) (D) THE COMMISSIONER MAY NOT GRANT APPROVAL OF AN
ACQUISITION AND CONVERSION UNDER THIS SUBSECTION UNLESS THE
COMMISSIONER FINDS:

(1)  AT LEAST ONE OR MORE OF THE SAVINGS AND LOAN
ASSOCIATIONS TO BE ACQUIRED WAS PLACED INTO A CONSERVATORSHIP OR
RECEIVERSHIP UNDER TITLE 9, SUBTITLE 7 OF THIS ARTICLE BEFORE
JUNE 1, 1985 AND CONTINUES TO BE UNDER THE CONTROL OF A
CONSERVATOR OR RECEIVER AT THE TIME THE PLAN OF ACQUISITION IS
FILED:

(I) WAS PLACED INTO A CONSERVATORSHIP OR
RECEIVERSHIP UNDER TITLE 9, SUBTITLE 7 OF THIS ARTICLE BEFORE
OCTOBER 15, 1985, AND CONTINUES TO BE UNDER THE CONTROL OF A
CONSERVATOR OR RECEIVER AT THE TIME THE PLAN OF ACQUISITION IS
FILED; OR

(II) BEFORE OCTOBER 15, 1985, HAS BEEN THE
SUBJECT OF AN EXECUTIVE ORDER IMPOSING LIMITATIONS ON WITHDRAWALS
FROM SAVINGS ACCOUNTS THAT ARE MORE RESTRICTIVE THAN THOSE SET
FORTH IN EXECUTIVE ORDER 01.01.1985.1l (MAY 21, 1985), AS
AMENDED;

(2) (I) THE AGGREGATE TOTAL SAVINGS ACCOUNT LIABILITY
OF THE ASSOCIATION OR ASSOCIATIONS TO BE ACQUIRED WAS AT LEAST
$450,000,000 ON JUNE 1, 1985; OR

 

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Session Laws, 1985, May and October Special Sessions
Volume 761, Page 70   View pdf image
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