HARRY HUGHES, Governor

593

(1)   A STATE BANKING INSTITUTION THAT HAS ITS
PRINCIPAL BANKING OFFICE IN THIS STATE; OR

(2)   A NATIONAL BANKING ASSOCIATION THAT HAS ITS
PRINCIPAL BANKING OFFICE IN THIS STATE.

REVISOR'S NOTE: This subsection presently appears as
Art. 11, § 31A{b)3.

The term "principal banking office" is
substituted for the references to "principal
offices", for clarity.

In item (1) of this subsection, the term "banking
institution", which is defined in § 1-101 of this
article, is substituted for the reference to
"bank or trust company incorporated under the
laws of this State".

The term "national banking association" is
defined in § 1-101 of this article.

(D) FOREIGN BANK.

"FOREIGN BANK" MEANS ANY BANK OR TRUST COMPANY OTHER
THAN:

(1)   A STATE BANKING INSTITUTION THAT HAS ITS
PRINCIPAL BANKING OFFICE IN THIS STATE; AND

(2)   A NATIONAL BANKING ASSOCIATION THAT HAS ITS
PRINCIPAL BANKING OFFICE IN THIS STATE.

REVISOR'S NOTE: This subsection presently appears as
Art. 11, § 31A(b)1.

The term "principal banking office" is

substituted for the references to "principal
offices", for clarity.

In item (1) of this subsection, the term "banking
institution", which is defined in § 1-101 of this
article, is substituted for the reference to "any
bank or trust company {that is} incorporated
under the laws of this State".

The term "national banking association" is
defined in § 1-101 of this article.

Although the present provision states that the
definition of "foreign bank" applies throughout
present Art. 11, § 31A, that term actually
appears only in present Art. 11, § 3lA(b), and an
undefined term "foreign banking corporation"
appears in present Art. 11, § 31A(a). The latter
term also appears in present Art. 11, § 32.