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§ 5-1104. Powers of Commissioner relating to acquisition

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 5. Banking Institutions--General Provisions
Subtitle 11. Savings and Loan Associations--Emergency Interstate Acquisitions (Refs & Annos)
MD Code, Financial Institutions, § 5-1104
§ 5-1104. Powers of Commissioner relating to acquisition
Currentness
If the Commissioner deems it appropriate in order to consummate an acquisition under this subtitle, the Commissioner may:
(1) Convert the charter, form of ownership, or operating powers of a savings and loan association into the charter, form of ownership, or operating powers of a commercial bank;
(2) Authorize the consolidation, merger, or transfer of assets of a savings and loan association into one or more savings and loan associations or commercial banks; and
(3) Charter a new commercial bank or savings and loan association to acquire all or a substantial portion of the assets and liabilities of an existing savings and loan association, including all savings accounts liabilities and liabilities to the State.

Credits

Added by Acts 1985, 2nd Sp. Sess., c. 3, § 1, eff. Oct. 25, 1985.
MD Code, Financial Institutions, § 5-1104, MD FIN INST § 5-1104
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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