Section 9-1006 – Duties of Interstate Association or Out-of-State Savings and Loan Holding Company
(a) An interstate association or an out–of–state savings and loan holding company that controls a Maryland association, a Maryland savings and loan holding company, an interstate association, or an out–of–state savings and loan holding company having a Maryland association subsidiary shall be subject to and be entitled to the benefits of those laws of this State […]
Section 9-1007 – Powers of Division Director
(a) The Division Director may enter into cooperative agreements with any other savings and loan regulatory unit to facilitate the regulation of savings and loan associations and savings and loan holding companies doing business in this State. (b) The Division Director may accept reports of examinations and other records from any other unit instead of conducting its […]
Section 9-1008 – Purpose; Nonseverability; Monitoring and Reporting
(a) It is the purpose of this subtitle to permit orderly development of savings and loan association operations on a regional reciprocal basis. It is not the purpose of this subtitle to authorize interstate savings and loan association operations on any basis other than as provided in this subtitle. (b) Except as provided in subsection (c) of […]
Section 9-1009 – Conversion to or From Federal or Regional Charter; Divestment by Associations Not Federally Chartered
(a) An out-of-state association’s status as an out-of-state association shall not be affected by its conversion from a federal charter to a charter issued by a region jurisdiction, or by conversion from a charter issued by a region jurisdiction to a federal charter, so long as the out-of-state association otherwise continues to qualify as an out-of-state […]
Section 9-710 – Jurisdiction of Circuit Court
(a) (1) Notwithstanding any other provision of law and to the maximum extent permitted under the federal and State constitutions, the circuit court administering a conservatorship or receivership under this title shall have exclusive and plenary jurisdiction over all claims, actions, and proceedings that are brought by any person and that are related to the assets, property, […]
Section 9-911 – Persons Convicted of Crime
(a) Except with the written consent of the Division Director, a person who has been convicted, or who is convicted, of any crime involving dishonesty or a breach of trust, may not ever serve as an officer or director of an association. (b) However, the pendency of an appeal from the conviction stays the operation of the […]
Section 9-711 – Powers of Circuit Court in Administering Conservatorship or Receivership
(a) The circuit court administering a conservatorship or receivership under this title has full power to approve and allow or to reject and disallow claims against the conservatorship or receivership estate. (b) In a receivership, the court administering the receivership may estimate for purposes of allowance: (1) Any contingent, unliquidated, unmatured, or disputed claim, the fixing, liquidation, maturation, […]
Section 9-712 – Approval of Sale, Transfer, or Pledge of Assets
(a) In this section, savings and loan association includes its affiliates, subsidiaries, or a holding company. (b) (1) Upon application of the conservator or receiver, if the court, after notice and a hearing, determines that the consideration to be received from a transaction is fair and reasonable, the circuit court administering a conservatorship or receivership under this title […]
Section 9-801 – “Foreign Association” Defined
In this subtitle, “foreign association” means any savings and loan association other than: (1) A savings and loan association incorporated under the laws of this State; or (2) A savings and loan association incorporated under the laws of the United States that has its principal office in this State.
Section 9-802 – General Prohibition; Exceptions
(a) Except as provided under subsection (b) of this section, a foreign association or a savings and loan association that maintains its principal office outside this State may not: (1) Have an office for business in this State except for an office that was open for business in this State before June 1, 1955; (2) Have an electronic […]