{"data":{"id":"us-md/md.-code-financial-institutions-5-1105","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 5–1105","heading":"","body":"(a) Except as provided in subsections (b), (c), (d), and (e) of this section, a commercial bank acquired under this subtitle may exercise all the powers of, and shall be subject only to those restrictions imposed on a commercial bank owned by a Maryland bank holding company under applicable State law.\n(b) A commercial bank that results from a conversion of a savings and loan association or acquires a savings and loan association may hold assets or conduct business activities, other than insurance assets and insurance activities, that result from the acquisition of a savings and loan association and that do not conform with applicable law, unless a different period is authorized by federal regulatory agencies:\n(1) For a period of 5 years after the acquisition; and\n(2) If the Commissioner approves, for an additional period not exceeding 5 years.\n(c) A commercial bank that results from a conversion of a savings and loan association or acquires a savings and loan association may hold insurance assets or conduct insurance activities that result from the acquisition of a savings and loan association and that do not conform with applicable law, unless a different period is authorized by federal regulatory agencies, for a period of 2 years after the date of acquisition.\n(d) Except as provided in subsection (c) of this section, a commercial bank acquired under this subtitle may hold insurance assets or conduct insurance activities only to the extent permitted under applicable law to a Maryland commercial bank.\n(e) A commercial bank that results from the conversion of a savings and loan association or acquires a savings and loan association that is subject to the provisions of this section may not exercise any rights afforded to a Maryland bank, a Maryland bank holding company, or an out-of-state bank holding company under any Maryland law authorizing reciprocal interstate banking acquisitions until such time as national reciprocal interstate banking is authorized under State law.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=5-1105","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"62607ed9d1f379539d3ef1b96b6e943d4d77bbb24707edb56310c7e549736794","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-5-1104","next":"us-md/md.-code-financial-institutions-5-1106"},"notice":"GroundRules: Original legal text. Not legal advice."}