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LAWS OF MARYLAND

Ch. 718

be refunded in the manner provided in 6§ 213 and 214 of this
article.

(H) THE GOVERNING BODY OF WASHINGTON COUNTY MAY
PROVIDE FOR THE PRORATION OF THE PERSONAL PROPERTY TAX FOR
THAT PART OF THE TAXABLE YEAR DURING WHICH A BUSINESS
ACTUALLY CONDUCTS BUSINESS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.

Approved May 29, 1979.

CHAPTER 719

(Rouse Bill 621)

AN ACT concerning

foreign Banking Corporations - Office or Terminal

FOR the purpose of requiring a foreign banking corporation
to obtain a permit from the Bank Commissioner to
operate an office or electronic terminal in this State;
establishing procedures and requirements for the
permit; granting certain powers and duties to the Bank
Commissioner; and generally relating to a foreign
banking corporation obtaining a certain permit.

BY adding to

Article 11 - Banks and Trust Companies

Section 32

Annotated Code of Maryland

(1976 Replacement Volume and 1978 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 11 — Banks and Trust Companies

32.

(A)    EXCEPT FOR A NATIONAL BANKING ASSOCIATION HAVING
ITS MAIN OFFICE IN THIS STATE, A FOREIGN BANKING CORPORATION
MAY NOT ESTABLISH OR MAINTAIN AN OFFICE OR AN ELECTRONIC
TERMINAL IN THE STATE FOR ANY PURPOSE UNLESS A PERMIT IS
FIRST OBTAINED.

(B)    TO OBTAIN A PERMIT FOR ONE OR MORE OFFICES OR
TERMINALS, THE FOREIGN BANKING CORPORATION SHALL MAKE A