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§ 6-201. Definitions

West's Annotated Code of MarylandState Finance and ProcurementEffective: May 3, 2023

West's Annotated Code of Maryland
State Finance and Procurement
Division I. State Finance [Titles 1-10a] (Refs & Annos)
Title 6. Revenues (Refs & Annos)
Subtitle 2. State Treasury (Refs & Annos)
Part I. Definitions; General Provisions (Refs & Annos)
Effective: May 3, 2023
MD Code, State Finance and Procurement, § 6-201
§ 6-201. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Banking institution
(b) “Banking institution” means an institution that is incorporated under the laws of the State as a State bank, trust company, or savings bank.
Collateral
(c) “Collateral” means collateral that is listed under § 6-202 of this subtitle.
Deposit insurance
(d) “Deposit insurance” means insurance by:
(1) the Federal Deposit Insurance Corporation; or
(2) the Resolution Trust Corporation created under § 21A of the Federal Home Loan Bank Act (12 U.S.C. § 1441a.).
Financial institution
(e) “Financial institution” means:
(1) any banking institution;
(2) any national banking association;
(3) an institution that is incorporated under the laws of any other state as a bank; or
(4) an institution that is incorporated under the laws of this State or of the United States as a savings and loan association.
National banking association
(f) “National banking association” means an institution that is incorporated under federal law as a bank.
State money
(g) “State money” for purposes of §§ 6-209 and 6-210 of this subtitle includes money in a bank account maintained under the control of an employee or official of the clerk of the court or register of wills.

Credits

Added by Acts 1985, c. 11, § 2, eff. Oct. 1, 1985. Amended by Acts 1990, c. 6, § 2, eff. Feb. 16, 1990; Acts 1991, c. 55, § 1, eff. April 9, 1991; Acts 1997, c. 534, § 1, eff. Oct. 1, 1997; Acts 1998, c. 21, § 1, eff. April 14, 1998; Acts 2015, c. 22, § 5; Acts 2023, c. 254, § 5, eff. May 3, 2023; Acts 2023, c. 255, § 5, eff. May 3, 2023.
Formerly Art. 95, § 21A.
MD Code, State Finance and Procurement, § 6-201, MD STATE FIN & PROC § 6-201
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.
End of Document