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§ 12-207. Permit required for foreign banking corporation to have office in State

West's Annotated Code of MarylandFinancial InstitutionsEffective: October 1, 2008

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 2. Foreign Banks (Refs & Annos)
Part III. Offices
Effective: October 1, 2008
MD Code, Financial Institutions, § 12-207
§ 12-207. Permit required for foreign banking corporation to have office in State
Currentness
In general
(a) Except as provided in subsection (b) of this section, a foreign banking corporation may not have an office in this State for any purpose unless:
(1) The foreign banking corporation obtains from the Commissioner a permit for the office; or
(2) The office is authorized under:
(i) The Riegle-Neal Interstate Banking and Branching Efficiency Act of 19941 or other federal law; or
(ii) Title 5, Subtitle 9 or Subtitle 10 of this article.
Other license maintained by foreign banking corporation
(b) A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1985, c. 113; Acts 1995, c. 213, § 2, eff. Sept. 29, 1995; Acts 1996, c. 326, § 2, eff. July 1, 1996; Acts 1999, c. 603, § 1, eff. Oct. 1, 1999; Acts 2000, c. 61, § 1, eff. April 25, 2000; Acts 2008, c. 89, § 1, eff. Oct. 1, 2008.
Formerly Art. 11, §§ 31A, 32.

Footnotes

1
Pub.L. 103-328, Sept. 29, 1994, 108 Stat. 2338.
MD Code, Financial Institutions, § 12-207, MD FIN INST § 12-207
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