2004

LAWS OF MARYLAND

[Ch. 311

(2)     ANY SECURITY ISSUED OR GUARANTEED BY CANADA,
ANY CANADIAN PROVINCE, ANY POLITICAL SUBDIVISION OF THE
PROVINCE, ANY AGENCY, CORPORATE, OR OTHER INSTRUMENTALITY
OF ONE OR MORE OF THEM, OR ANY OTHER FOREIGN GOVERNMENT
WITH WHICH THE UNITED STATES CURRENTLY MAINTAINS
DIPLOMATIC RELATIONS, IF THE SECURITY IS RECOGNIZED AS A
VALID OBLIGATION BY THE ISSUER OR GUARANTOR;

(3)   ANY SECURITY ISSUED BY AND REPRESENTING AN
INTEREST IN OR A DEBT OF, OR GUARANTEED BY, ANY BANK
ORGANIZED UNDER THE LAWS OF THE UNITED STATES OR ANY
BANK, SAVINGS INSTITUTION, OR TRUST COMPANY ORGANIZED AND
SUPERVISED UNDER THE LAWS OF ANY STATE;

(4)    ANY SECURITY ISSUED BY AND REPRESENTING AN
INTEREST IN OR A DEBT OF, OR GUARANTEED BY ANY FEDERAL
SAVINGS AND LOAN ASSOCIATION OR ANY BUILDING AND LOAN OR
SIMILAR ASSOCIATION ORGANIZED AND SUPERVISED UNDER THE
LAWS OF ANY STATE AND AUTHORIZED TO DO BUSINESS IN
[[THE]] THIS STATE;

(5)   ANY SECURITY ISSUED BY AND REPRESENTING AN
INTEREST IN OR A DEBT OF, OR GUARANTEED BY, ANY INSURANCE
COMPANY ORGANIZED UNDER THE LAWS OF ANY STATE AND
AUTHORIZED TO DO BUSINESS IN THIS STATE;

(6)    ANY SECURITY ISSUED OR GUARANTEED BY ANY
FEDERAL CREDIT UNION OR ANY CREDIT UNION, INDUSTRIAL LOAN
ASSOCIATION, OR SIMILAR ASSOCIATION ORGANIZED AND
SUPERVISED UNDER THE LAWS OF THIS STATE;

(7)    ANY SECURITY ISSUED OR GUARANTEED BY ANY
RAILROAD, OTHER COMMON CARRIER, PUBLIC UTILITY, OR
HOLDING COMPANY WHICH IS:

(I)   SUBJECT TO THE JURISDICTION OF THE
INTERSTATE COMMERCE COMMISSION;

(II)   A REGISTERED HOLDING COMPANY UNDER THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 OR A
SUBSIDIARY OF SUCH A COMPANY WITHIN THE MEANING OF THAT
ACT;

(III)  REGULATED IN RESPECT OF ITS RATES AND
CHARGES BY A GOVERNMENTAL AUTHORITY OF THE UNITED STATES
OR ANY STATE; OR

(IV)  REGULATED IN   RESPECT OF THE ISSUANCE OR
GUARANTEE OF THE SECURITY BY   A GOVERNMENTAL AUTHORITY OF
THE UNITED STATES, ANY STATE,      CANADA, OR ANY CANADIAN

PROVINCE;

(8) (I) ANY SECURITY LISTED OR APPROVED FOR LISTING
ON NOTICE OF ISSUANCE ON THE NEW YORK STOCK EXCHANGE, THE