§ 9-1006. Duties of interstate association or out-of-state savings and loan holding company

   (a) Subject to, and entitled to benefits of, Maryland law. -- 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 and to the rules of its units relating to the acquisition, ownership, and operation of deposit-taking offices in Maryland, Maryland associations, and Maryland savings and loan holding companies.

(b) Filing information with Division Director. -- 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:

   (1) File with the Division Director copies of all regular and periodic reports that the savings and loan association or savings and loan holding company is required to file under § 13 or § 15(d) of the Securities Exchange Act of 1934, as amended, excluding any portions not required to be made available to the public;

   (2) Within 30 days of adoption, file with the Division Director a copy of its most recently adopted federal Community Reinvestment Act statement; and

   (3) File with the Division Director any other information the Division Director shall require by regulation, including the items required under the minimum reporting standards specified under § 9-1008(d) of this subtitle.

(c) Community Reinvestment Act performance evaluation. -- Within 30 days of receipt, the association or holding company shall submit to the Division Director a copy of the public portion of its most recent Community Reinvestment Act performance evaluation prepared by the federal regulatory agency that examines the association or holding company, together with a copy of any written response to the evaluation prepared by the association or holding company for its public Community Reinvestment Act file.

(d) Notice of failure to file information. -- The Division Director shall promptly notify the General Assembly as provided under § 2-1246 of the State Government Article, and the Department of Legislative Services of any interstate association or out-of-state savings and loan holding company that controls a Maryland association, an interstate association, a Maryland savings and loan holding company, or an out-of-state savings and loan holding company wishing to acquire or having acquired a Maryland association subsidiary that fails to, or refuses to, submit information as required in this section.

(e) Availability to public of documents submitted under subsections (b) and (c); fee. --

   (1) Upon request, the Division Director shall make available to the public a copy of the documents submitted under subsections (b) and (c) of this section.

   (2) The Division Director may charge a reasonable fee to a person requesting a copy to help defray the costs of providing copies of the documents to the public.

HISTORY: 1987, ch. 544; 1988, ch. 6, § 1; ch. 662; 1991, ch. 395; 1997, ch. 635, § 9; ch. 636, § 9; 2012, ch. 66, § 1.