HARRY HUGHES, Governor

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(2) (I) "FINANCIAL INSTITUTION" MEANS ALL
COMMERCIAL BANKS, SAFE DEPOSIT AND TRUST COMPANIES, AND
FINANCIAL CORPORATIONS AS DEFINED IN § 2(9) OF THIS ARTICLE.

(II) "FINANCIAL INSTITUTION" INCLUDES
INTERNATIONAL BANKING FACILITIES BUT DOES NOT INCLUDE
DOMESTIC OR FOREIGN FINANCE CORPORATIONS WHICH MAKE LOANS
EXCLUSIVELY TO FARMERS FOR AGRICULTURAL PURPOSES OR ANY
CORPORATION LICENSED UNDER THE SMALL BUSINESS INVESTMENT ACT
OF 1958, (15 U.S.C. 661 ET SEQ.).

(3)  "FOREIGN PERSON" MEANS:

(I)  AN INDIVIDUAL WHO IS NOT A RESIDENT OF
THE UNITED STATES;

(II)  A FOREIGN CORPORATION, A FOREIGN
PARTNERSHIP OR A FOREIGN TRUST, AS DEFINED IN THE TAX LAWS
OF THE UNITED STATES;

(III)  A FOREIGN BRANCH OF A DOMESTIC
CORPORATION (INCLUDING THE TAXPAYER);

(IV)  A FOREIGN GOVERNMENT OR AN
INTERNATIONAL ORGANIZATION OR AN AGENCY OF EITHER;

(V)  AN INTERNATIONAL BANKING FACILITY; OR

(VI)  A FOREIGN CORPORATION OR PARTNERSHIP
THAT HAS ESTABLISHED AN OFFICE WITHIN AN APPROVED FOREIGN
TRADE ZONE FOR ACTIVITIES TO BE CONDUCTED WITHIN THE
APPROVED FOREIGN TRADE ZONE.

(VII)  AS USED IN THIS PARAGRAPH, THE TERMS
"FOREIGN" AND "DOMESTIC" HAVE THE SAME MEANINGS AS IN THE
INTERNAL REVENUE CODE.

(4)  "APPROVED FOREIGN TRADE ZONE" MEANS AN AREA
DESIGNATED AS     SUCH IN ACCORDANCE WITH SECTIONS 466 THROUGH
469 OF ARTICLE  23 OF THIS CODE AND THE FOREIGN TRADE ZONES
ACT (19 U.S.C. 81A, ET SEQ.).

(5)  "INTERNATIONAL BANKING FACILITY" MEANS A
FINANCIAL INSTITUTION THAT:

(I) 1. MAKES, ARRANGES FOR, PLACES, OR
SERVICES ANY LOAN TO A FOREIGN PERSON FOR USE EITHER OUTSIDE
OF THE UNITED STATES OR IN AN APPROVED FOREIGN TRADE ZONE IN
THE UNITED STATES; OR

(II) 2. DERIVES EARNINGS FROM A FOREIGN
EXCHANGE TRADING OR HEDGING TRANSACTION THAT IS RELATED TO
SUCH A LOAN. AND

(III IS LOCATED WITHIN 1 MILE OF THE
FOREIGN TRADE ZONE IN AN AREA THAT HAS BEEN DESIGNATED FOR
USES SET FORTH IN SUBPARAGRAPHS I AND II UPON RECOMMENDATION