Section 5-1106 - Powers of Commissioner as to plan of acquisition. - Maryland Statutes

§ 5-1106. Powers of Commissioner as to plan of acquisition.
 

(a)  State regulatory approval; waiver of procedural requirements.- Notwithstanding any other provisions of law to the contrary, the Commissioner may: 

(1) Exercise any State regulatory approval that may be required to complete a plan of acquisition under this subtitle; and 

(2) Waive any procedural requirements, including publication and hearing procedures, if the Commissioner determines that prompt approval of the application protects the best interests of the depositors and creditors of the savings and loan association to be acquired under this subtitle and is in the public interest. 

(b)  Notice of final action on application.- The Commissioner shall give notice in the Maryland Register of the final action that has been taken on an application filed under this subtitle. 
 

[1985, 2nd Sp. Sess., ch. 3.]