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722 LAWS OF MARYLAND Ch. 143
Article - Financial Institutions
Section 11-301 and ll-302(a)
Annotated Code of Maryland
(1980 Volume and 1982 Supplement)
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BY adding to
Article - Commercial Law
Section 12-901 through 12-914 12-916 12-920 12-921,
inclusive, to be under the new subtitle "Subtitle 9.
Bank Credit Grantor Revolving Credit Provisions";
and 12-1001 through 12-1014 12-1016 12-1021,
inclusive, to be under the new subtitle "Subtitle
10. Bank Credit Grantor Closed End Credit
Provisions"
Annotated Code of Maryland
(1975 Volume and 1982 Supplement)
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BY repealing and reenacting, with amendments,
Article - Commercial Law
Section 12-306(a)(6)
Annotated Code of Maryland
(1975 Volume and 1982 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Financial Institutions
SUBTITLE 9. ACQUISITION OF STOCK IN BANKS LOCATED
IN MARYLAND BY OUT OF STATE BANK HOLDING COMPANIES
5-901.
AS USED IN THIS SUBTITLE:
(A) "BANK" MEANS A BANK, TRUST COMPANY, OR SAVINGS BANK
INCORPORATED UNDER THE LAWS OF THIS STATE AFTER JULY 1, 1983 OR A
NATIONAL BANKING ASSOCIATION OR A FEDERAL SAVINGS BANK CREATED
UNDER APPLICABLE PROVISIONS OF FEDERAL LAW AFTER JULY 1, 1983.
(B) (1) "OUT OF STATE BANK HOLDING COMPANY" MEANS A BANK
HOLDING COMPANY, AS DEFINED IN THE FEDERAL BANK HOLDING COMPANY
ACT OF 1956, AS AMENDED, THAT HAS BANKING SUBSIDIARIES WHOSE
OPERATIONS ARE PRINCIPALLY CONDUCTED IN A STATE OTHER THAN
MARYLAND.
(2) FOR THE PURPOSES OF THIS SUBTITLE, THE STATE IN
WHICH THE OPERATIONS OF A BANK HOLDING COMPANY'S BANKING
SUBSIDIARIES ARE PRINCIPALLY CONDUCTED IS THE STATE IN WHICH THE
TOTAL DEPOSITS OF ALL THE HOLDING COMPANY'S BANKING SUBSIDIARIES
ARE GREATEST.
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