HARRY HUGHES, Governor

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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 27, 1980.

CHAPTER 758

(House Bill 649)

AN ACT concerning

Financial Institutions - Foreign Banks -
Electronic Terminals

FOR the purpose of defining electronic terminal and foreign
banking corporation in the Financial Institutions
Article; and altering the definition of foreign bank to

include certain foreign banking corporations held by
certain persons, foreign banks, or holding companies.

BY repealing and reenacting, with amendments,

Article - Financial Institutions
Section 12-201, § 17012-207, and 12-210
Annotated Code of Maryland

(As enacted by (H.B. 1) Chapter ____ of the Acts

of the General Assembly of 1980)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland

(as enacted by (H.B. 1) Chapter ____ of the Acts of the

General Assembly of 1980) be repealed, amended, or enacted
to read as follows:

Article - Financial Institutions

Subtitle 2. Foreign Banks.

Part I. Definitions.

12-201.

(a)  In this subtitle the following words have the
meanings indicated.

(b)  "Affiliated corporation" means any corporation,
whether incorporated under the laws of this State or of any
other jurisdiction, of which 25 percent or more of the
outstanding voting shares are owned of record or
beneficially by: