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<section article="gfi" article_name="Financial Institutions" number="5-901" title_number="5" title_name="Banking Institutions -- General Provisions" subtitle_number="9" subtitle_name="Bank Holding Companies">
  <level label="a">
    <text>In this subtitle the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <text>“Acquire” means:</text>
    <level label="1">
      <text>For one bank holding company to merge or consolidate with another bank holding company;</text>
    </level>
    <level label="2">
      <text>For a bank holding company to assume direct or indirect ownership or control of:</text>
      <level label="i">
        <text>More than 5 percent of any class of voting shares of another bank holding company or a bank; or</text>
      </level>
      <level label="ii">
        <text>All or substantially all of the assets of another bank holding company or a bank; or</text>
      </level>
    </level>
    <level label="3">
      <text>To take any other action that results in the direct or indirect control by a bank holding company of another bank holding company or a bank.</text>
    </level>
  </level>
  <level label="c">
    <text>“Affiliate” has the meaning stated in § 5-401 of this title.</text>
  </level>
  <level label="d">
    <text>“Bank” has the meaning stated in § 2(c) of the Bank Holding Company Act.</text>
  </level>
  <level label="e">
    <text>“Bank holding company”:</text>
    <level label="1">
      <text>Has the meaning stated in § 2(a) of the Bank Holding Company Act; and</text>
    </level>
    <level label="2">
      <text>Unless the context requires otherwise, includes:</text>
      <level label="i">
        <text>A Maryland bank holding company;</text>
      </level>
      <level label="ii">
        <text>An out-of-state bank holding company;</text>
      </level>
      <level label="iii">
        <text>A foreign bank holding company; and</text>
      </level>
      <level label="iv">
        <text>A corporation or other entity that becomes a bank holding company by making an acquisition under this subtitle.</text>
      </level>
    </level>
  </level>
  <level label="f">
    <text>“Bank Holding Company Act” means the federal Bank Holding Company Act of 1956.</text>
  </level>
  <level label="g">
    <text>“Bank supervisory agency” means:</text>
    <level label="1">
      <text>The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of Foreign Assets Control, and any successor to these agencies;</text>
    </level>
    <level label="2">
      <text>Any agency of another state with primary responsibility for chartering and supervising banks; and</text>
    </level>
    <level label="3">
      <text>Any agency of a foreign country with primary responsibility for chartering and supervising banks.</text>
    </level>
  </level>
  <level label="h">
    <text>“Control” has the meaning stated in § 2(a) of the Bank Holding Company Act.</text>
  </level>
  <level label="i">
    <text>“Deposit”:</text>
    <level label="1">
      <text>With respect to any bank holding company other than a foreign bank holding company, has the meaning stated in 12 U.S.C. § 1813(l); and</text>
    </level>
    <level label="2">
      <text>With respect to a foreign bank holding company, has the meaning stated in the law of the country in which the holding company is organized or incorporated.</text>
    </level>
  </level>
  <level label="j">
    <text>“Foreign bank holding company” means a bank holding company with its principal place of business outside the United States.</text>
  </level>
  <level label="k">
    <text>“Insured depository institution” means any financial institution the deposits of which are insured by the Federal Deposit Insurance Corporation.</text>
  </level>
  <level label="l">
    <text>“Maryland bank” means a bank that is:</text>
    <level label="1">
      <text>Organized under Title 3 or Title 4 of this article; or</text>
    </level>
    <level label="2">
      <text>Organized under federal law and having its main office in this State.</text>
    </level>
  </level>
  <level label="m">
    <text>“Maryland bank holding company” means a bank holding company that:</text>
    <level label="1">
      <text>Had its principal place of business in this State on the later of July 1, 1966 or the date on which the company became a bank holding company; and</text>
    </level>
    <level label="2">
      <text>Is not controlled by a bank holding company other than a Maryland bank holding company.</text>
    </level>
  </level>
  <level label="n">
    <level label="1">
      <text>“Out-of-state bank holding company” means a bank holding company that is not a Maryland bank holding company.</text>
    </level>
    <level label="2">
      <text>“Out-of-state bank holding company” includes a foreign bank holding company.</text>
    </level>
  </level>
  <level label="o">
    <text>“Principal place of business” means the jurisdiction in which the total deposits of a bank holding company’s bank subsidiaries are the greatest.</text>
  </level>
  <level label="p">
    <text>“State” means any state, territory, or other possession of the United States, including the District of Columbia.</text>
  </level>
  <level label="q">
    <text>“Subsidiary” has the meaning stated in § 2(d) of the Bank Holding Company Act.</text>
  </level>
</section>
