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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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FINANCIAL INSTITUTIONS |
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TITLE 3. BANKING INSTITUTIONS -- COMMERCIAL BANKS |
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SUBTITLE 7. CONSOLIDATIONS, MERGERS, AND TRANSFERS OF ASSETS |
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PART I. IN GENERAL |
§ 3-704. Public notice of filing
Latest version.
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(a) Notice required. --
(1) Except as provided in subsection (b) of this section, the Commissioner shall publish a notice of the filing of the agreement.
(2) The notice shall be published in the Maryland Register as provided in the State Documents Law.
(b) Exception. -- Subject to confirmation by the Secretary of Labor, Licensing, and Regulation, the Commissioner may approve an agreement without the notice required by this section if:
(1) The agreement and proposed transaction meet the requirements of § 3-706 of this subtitle;
(2) The financial condition or stability of one of the constituent banks is such that a delay of the proposed transaction will cause an economic hardship to it; and
(3) Approval of the agreement is in the public interest.