HARRY HUGHES, Governor

595

(B) PROHIBITED BANKING ACTIVITIES.

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 AND TRUST BUSINESS.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §§
31A(a) and 32(a).

In subsection (b) of this section, the reference
to an "electronic terminal" is new language added
for consistency and to reflect present Art. 11, §
32(c) — now § 12-209 of this subtitle — which
requires the Bank Commissioner to determine if
the proposed office or terminal would "violate §
31A of this article or any other law ...
applicable to banks...".

12-208. APPLICATIONS FOR PERMITS.

(A)   IN GENERAL.

TO APPLY FOR A PERMIT FOR AN OFFICE OR ELECTRONIC
TERMINAL, A FOREIGN BANK BANKING CORPORATION SHALL:

(1)   SUBMIT TO THE BANK COMMISSIONER AN
APPLICATION ON THE FORM THAT THE BANK COMMISSIONER REQUIRES;
AND

(2)   PAY TO THE BANK COMMISSIONER THE APPLICATION
FEE SET BY THE BANK COMMISSIONER.

(B)   REQUIRED CONTENTS.

THE APPLICATION SHALL STATE:

(1)   THE LOCATION OF EACH PROPOSED OFFICE AND
ELECTRONIC TERMINAL;

(2)   A SPECIFIC DESCRIPTION OF THE PROPOSED
OPERATIONS; AND

(3)   THE SERVICES TO BE PERFORMED FOR THE PUBLIC.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, § 32(b)