Md. Code Ann., Fin. Inst. § 12-207
Permit required for foreign banking corporation to have office in State
Effective Oct 1, 2008Added 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.State of Maryland
(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.
- (b) A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.
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.
Pub.L. 103-328, Sept. 29, 1994, 108 Stat. 2338.