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§ 5-1106. Approval of acquisition plan

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, § 5-1106
§ 5-1106. Approval of acquisition plan
Currentness
In general
(a) Notwithstanding any other provisions of law to the contrary, the Commissioner may:
(1) Exercise any State regulatory approval that may be required to complete a plan of acquisition under this subtitle; and
(2) Waive any procedural requirements, including publication and hearing procedures, if the Commissioner determines that prompt approval of the application protects the best interests of the depositors and creditors of the savings and loan association to be acquired under this subtitle and is in the public interest.
Notice of final action
(b) The Commissioner shall give notice in the Maryland Register of the final action that has been taken on an application filed under this subtitle.

Credits

Added by Acts 1985, 2nd Sp. Sess., c. 3, § 1, eff. Oct. 25, 1985.
MD Code, Financial Institutions, § 5-1106, MD FIN INST § 5-1106
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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