§ 5-1101. Definitions
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 5-1101
§ 5-1101. Definitions
(b) “Acquire” means to assume ownership or control, directly or indirectly, of any voting shares of, interest in, or all or a substantial portion of the assets and liabilities, including, unless otherwise determined in writing by the Director of the State of Maryland Deposit Insurance Fund Corporation to be in the best financial interest of the Fund, all savings accounts liabilities that are insured by the Fund, to the extent of the insurance, and liabilities to the State, of the following institutions:
(c) “Act” means the federal Bank Holding Company Act of 1956,1 as amended.
(d) “Maryland bank holding company” means a company that is defined as a bank holding company under the Act and that conducted its principal banking business in Maryland on July 1, 1966, or on the date on which the company became a bank holding company under the Act, whichever occurred later.
(e) “Out-of-state bank holding company” means a company that is defined as a bank holding company under the Act and that conducted its principal banking business in a jurisdiction of the United States other than Maryland on July 1, 1966, or on the date on which the company became a bank holding company under the Act, whichever occurred later.
Credits
Added by Acts 1985, 2nd Sp. Sess., c. 3, § 1, eff. Oct. 25, 1985. Amended by Acts 1986, c. 11, §§ 1, 2; Acts 1996, c. 326, §§ 2, 3, eff. July 1, 1996.
Footnotes
May 9, 1956, ch. 240, 70 Stat. 133, codified at 12 U.S.C.A. § 1841 et seq.
MD Code, Financial Institutions, § 5-1101, MD FIN INST § 5-1101
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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