Ch. 662

LAWS OF MARYLAND

(2) SPECIFIES THE PARTICIPATION, IF ANY, IN
GOVERNMENT SPONSORED PROGRAMS THAT ARE DESIGNED TO MEET THE
CREDIT NEEDS OF SMALL BUSINESSES, FARM OWNERS, AND LOW AND
MODERATE INCOME INDIVIDUALS; AND

(2)(3) SPECIFIES PLANS, IF ANY, FOR NEW PROGRAMS OR
INITIATIVES TO MEET THE CREDIT NEEDS OF SMALL BUSINESSES, FARM
OWNERS, AND LOW AND MODERATE INCOME FAMILIES AND INDIVIDUALS.

(G) THE REPORTING REQUIREMENT UNDER SUBSECTION (F) OF THIS
SECTION MAY BE SATISFIED BY THE SUBMISSION OF ANY REPORT REQUIRED
BY THE FEDERAL GOVERNMENT IF THE REPORT CONTAINS SUBSTANTIALLY
THE SAME INFORMATION REQUIRED UNDER SUBSECTION (F) OF THIS
SECTION.----------------------------------------------------------

(2) (G) (H) UPON REQUEST, THE COMMISSIONER SHALL MAKE
AVAILABLE TO THE PUBLIC A COPY OF THE REPORT REQUIRED UNDER THIS
SUBSECTION (F) OF THIS SECTION.

5-1103.

(a) An out-of-state bank holding company may acquire one or
more savings and loan associations and convert one or more of the
acquired savings and loan associations into one or more
commercial banks or one or more newly-formed commercial banks
that have acquired or will acquire one or more savings and loan
associations, if the out-of-state bank holding company and the
entity to be acquired:

(1)  File jointly an application and a plan of
acquisition for approval with the Commissioner that contain the
information the Commissioner may require;

(2)  Submit with the application:

(i) The designation of a resident of this State
as the applicant's agent for the service of any paper, notice, or
legal process on the applicant in connection with matters arising
out of this subtitle; and

(ii) A filing fee of $5,000; and

(3)  Receive approval of the acquisition from the
Commissioner after the Commissioner has received:

(i) Advice from the Director of the Division of
Savings and Loan Associations and the Fund Director of the State
of Maryland Deposit Insurance Fund Corporation; and

(ii) The concurrence of the Secretary of
Licensing and Regulation.

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