HARRY HUGHES, Governor                             2615

purpose unless the foreign [bank] BANKING CORPORATION

obtains from the bank commissioner a permit for the office
or terminal.

(b) A foreign [bank] BANKING CORPORATION may not have
any office or electronic terminal in this State:

(1) To solicit deposits; or

(2) To conduct:

(i) A general banking business;

(ii) A savings banking business; or

(iii) A banking an trust business.

(a) A permit expires on the second anniversary of its
effective date, unless the permit is renewed for a 2-year
term as provided in this section.

(b) Before its permit expires, the foreign [bank]
BANKING CORPORATION may renew the permit for additional
2-year terms if the foreign [bank] BANKING CORPORATION:

(1) At least 30 days before its permit expires:

(i) Submits to the bank commissioner a
renewal application on the form that the bank commissioner
requires; and

(ii) Pays to the bank commissioner the
renewal fee set by the bank commissioner; and

(2) Meets the requirements for issuance of a
permit under § 12-209 of this subtitle.

(c) The bank commissioner shall renew the permit of

each foreign [bank] BANKING CORPORATION that meets the

requirements of this section.

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

Approved May 27, 1980.

CHAPTER 759
(House Bill 652)
AN ACT concerning