(a) The Commissioner shall decide whether to approve an application under § 5-904 of this subtitle within 60 days of receipt of a completed application.
(b) An application shall be deemed approved if the Commissioner takes no action on the application within the time limits specified in this section.
Structure Maryland Statutes
Title 5 - Banking Institutions -- General Provisions
Subtitle 9 - Bank Holding Companies
Section 5-902 - Scope of Subtitle
Section 5-903 - Prohibited Acquisitions; Notice to Commissioner
Section 5-904 - Application for Acquisition; Forms for Applications, Notice, and Reports
Section 5-905 - Approval of Application -- Factors Considered; Limitations