1. (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. (1) Making or investing in loans on property in this State;
   2. (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. (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.
2. (b) Nothing in this section exempts a foreign corporation from the licensing requirements of Title 11, Subtitle 5 of this article.

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.