224                                         LAWS OF MARYLAND                                   Ch. 33

THE BENEFIT OF THE PARTNERSHIP OR ASSOCIATION OR FOR THE
BENEFIT OF ANY MEMBER OF THE PARTNERSHIP OR ASSOCIATION.

(I) SAME — CORPORATIONS.

THE TOTAL LIABILITIES OF ANY CORPORATION TO A
COMMERCIAL BANK INCLUDE ALL LOANS THAT THE COMMERCIAL BANK
MAKES FOR THE BENEFIT OF THE CORPORATION.

(J) SAME — LOANS FOR BENEFIT OF CORPORATION,
PARTNERSHIP, OR ASSOCIATION.

FOR PURPOSES OF THIS SECTION, A LOAN IS CONSIDERED TO
BE MADE FOR THE BENEFIT OF A CORPORATION, PARTNERSHIP, OR
UNINCORPORATED ASSOCIATION TO THE EXTENT THAT THE PROCEEDS
OF THE LOAN ARE TRANSFERRED TO THE CORPORATION, PARTNERSHIP,
OR ASSOCIATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, § 91.

Throughout this section, the term "commercial
bank", which is defined in § 1—101 of this
article, is substituted for references to a "bank
or trust company". Although the last sentence of
present Art. 11, § 91 defines "bank" to include
"savings institutions having a capital stock",
that sentence is deleted as obsolete. See
revisor's note to § 4-401 of this article.

The term "unimpaired" is substituted for
"paid—in". The latter is an unnecessary
limitation, while the substitution is consistent
with the apparent intent of the section and with
similar provisions appearing elsewhere in this
article. See, e.g., § 12—103 of this article.

The word "person", which is defined in § 1—101 of
this article, is substituted for references to
"person, copartnership or corporation".

In subsections (a)(2) and (c)(2)(ii) of this
section, the somewhat broader term "political
subdivision" — which, as defined in § 1—101 of
this article, includes a special taxing district
— is substituted for references to a "county or
municipality" and "county or municipal
corporation".

Subsection (c) (1) (i) of this section is new
language added to extend the limitations on loans
to standby letters of credit. This change
conforms to current practice in the banking
industry.

In subsection (c)(2)(ii) of this section, the
reference to "currency" is new language added to