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§ 12-201. Definitions

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 2. Foreign Banks (Refs & Annos)
Part I. Definitions
MD Code, Financial Institutions, § 12-201
§ 12-201. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Affiliated corporation
(b) “Affiliated corporation” means any corporation, whether incorporated under the laws of this State or of any other jurisdiction, of which 25 percent or more of the outstanding voting shares are owned of record or beneficially by:
(1) A foreign bank; or
(2) Persons who own of record or beneficially 25 percent or more of the outstanding voting shares of a foreign bank.
Bank holding company
(c) “Bank holding company” means a corporation that owns of record or beneficially 25 percent or more of the outstanding voting shares of:
(1) A state banking institution that has its principal banking office in this State; or
(2) A national banking association that has its principal banking office in this State.
Foreign bank
(d) “Foreign bank” means any bank or trust company other than:
(1) A state banking institution that has its principal banking office in this State; and
(2) A national banking association that has its principal banking office in this State.
Foreign banking corporation
(e) “Foreign banking corporation” means:
(1) A foreign bank; or
(2) Any corporation that:
(i) Is controlled by a foreign bank;
(ii) Controls a foreign bank; or
(iii) Is controlled by persons who control a foreign bank or foreign bank holding company.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 758; Acts 1999, c. 603, § 1, eff. Oct. 1, 1999.
Formerly Art. 11, § 31A.
MD Code, Financial Institutions, § 12-201, MD FIN INST § 12-201
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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