Maryland Financial Institutions Section 9-802

      (a)      Except as provided under subsection (b) of this section, a foreign association or a savings and loan association that maintains its principal office outside this State may not:

            (1)      Have an office for business in this State except for an office that was open for business in this State before June 1, 1955;

            (2)      Have an electronic terminal in this State; or

            (3)      Be admitted to do business in this State.

      (b)      The prohibitions under subsection (a) of this section may not apply to any foreign association that:

            (1)      (i)      In furtherance of an agreement with the State of Maryland Deposit Insurance Fund Corporation entered into on or before January 1, 1987, becomes a successor in interest to an association that:

                        1.      Was not federally insured on or before May 18, 1985;

                        2.      Was a "major association", as defined under Title 10 of this article, on or before May 19, 1985; and

                        3.      Is not federally insured on or before April 1, 1986; and

                  (ii)      Operates the association as a federal association in this State;

            (2)      Makes an acquisition in accordance with the provisions of Subtitle 10 of this title; or

            (3)      Was operating an office for business in this State on July 1, 1987 in accordance with applicable State or federal law.