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§ 9-804. Activities of foreign association not considered doing business or having tax situs in...

West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2011

West's Annotated Code of Maryland
Financial Institutions
Title 9. Savings and Loan Associations
Subtitle 8. Foreign Associations (Refs & Annos)
Effective: October 1, 2011
MD Code, Financial Institutions, § 9-804
§ 9-804. Activities of foreign association not considered doing business or having tax situs in State
Currentness
In general
(a) For the purposes of this article and the Corporations and Associations Article, in addition to the activities listed in §§ 7-103 and 7-104 of the Corporations and Associations Article, the following activities of a foreign association do not constitute doing business or having tax situs in this State:
(1) Making or investing in loans on property in this State;
(2) Purchasing, acquiring, holding, selling, assigning, transferring, collecting, or enforcing by foreclosure or otherwise any whole or partial interest in any obligation secured by a mortgage or similar instrument, covering property in this State; or
(3) Employing an attorney, surveyor, or appraiser in connection with any activity permitted by this section or the servicing and collection of any investment in this State through a corporation that is authorized to do business in this State.
Licensing requirements
(b) Nothing in this section exempts a foreign corporation from the licensing requirements of Title 11, Subtitle 5 of this article.

Credits

Added by Acts 1980, c. 856, § 2, eff. July 1, 1980. Amended by Acts 1986, c. 282, § 1, eff. June 1, 1986; Acts 1989, c. 476, § 3, eff. July 1, 1989.
Formerly Art. 23, § 156.
MD Code, Financial Institutions, § 9-804, MD FIN INST § 9-804
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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