Section 5-1006 - Approval of branch - Considerations.
§ 5-1006. Approval of branch - Considerations.
(a) In general.- Subject to subsection (b) of this section, in deciding whether to approve a branch of a banking institution, the Commissioner shall consider:
(1) If the branch is to be established in this State, whether the establishment of the branch will promote the public convenience;
(2) Whether the applicant has sufficient capital to support the branch; and
(3) Whether the applicant is generally operating in compliance with the provisions of this article.
(b) Exception; expedited notice.-
(1) Subject to paragraph (2) of this subsection, a well-capitalized banking institution with a composite CAMELS rating of one or two may open a branch in this State without the approval of the Commissioner 30 days after filing an expedited notice for the proposed branch under § 5-1005(b) of this subtitle.
(2) The Commissioner may:
(i) Require the submission of additional information regarding the proposed establishment of a branch during the 30-day period that the expedited notice is pending; and
(ii) Prohibit the establishment of the branch within the 30-day period if the Commissioner determines that establishment of the branch is not consistent with the standards set forth in subsection (a) of this section.
[1995, ch. 213, § 2; 2009, ch. 741.]