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ROBERT L. EHRLICH, JR., Governor S.B. 580
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ACCEPTANCES, OR SECURITIES THAT ARE DIRECT OBLIGATIONS OF, OR THAT ARE
FULLY GUARANTEED AS TO PRINCIPAL AND INTEREST BY, THE UNITED STATES OR
AN AGENCY OF THE UNITED STATES AGAINST THE TRANSFER OF FUNDS BY THE
TRANSFEREE OF THE CERTIFICATES OF DEPOSIT, ELIGIBLE BANKERS'
ACCEPTANCES, OR SECURITIES WITH A SIMULTANEOUS AGREEMENT BY THE
TRANSFEREE TO TRANSFER TO THE TRANSFEROR CERTIFICATES OF DEPOSIT,
ELIGIBLE BANKERS' ACCEPTANCES, OR SECURITIES AS DESCRIBED ABOVE IN THIS
SUBPARAGRAPH (I) AT A CERTAIN DATE NOT LATER THAN 1 YEAR AFTER THE
TRANSFERS OR ON DEMAND, AGAINST THE TRANSFER OF FUNDS.
(II) FOR PURPOSES OF THE DEFINITIONS OF "REPURCHASE
AGREEMENT" AND "REVERSE REPURCHASE AGREEMENT" IN SUBPARAGRAPH (I) OF
THIS PARAGRAPH, THE ITEMS THAT MAY BE SUBJECT TO A REPURCHASE
AGREEMENT OR A REVERSE REPURCHASE AGREEMENT INCLUDE
MORTGAGE-RELATED SECURITIES, A MORTGAGE LOAN, AND AN INTEREST IN A
MORTGAGE LOAN, AND DO NOT INCLUDE ANY PARTICIPATION IN A COMMERCIAL
MORTGAGE LOAN UNLESS THE COMMISSIONER DETERMINES BY REGULATION OR
ORDER TO INCLUDE THE COMMERCIAL MORTGAGE LOAN PARTICIPATION.
(8) (I) "SECURITIES CONTRACT" MEANS A CONTRACT FOR THE
PURCHASE, SALE, OR LOAN OF A SECURITY, INCLUDING:
1. AN OPTION FOR THE REPURCHASE OR SALE OF A
SECURITY, CERTIFICATE OF DEPOSIT, OR GROUP OR INDEX OF SECURITIES,
INCLUDING AN INTEREST THEREIN OR BASED ON THE VALUE THEREOF;
2. AN OPTION ENTERED INTO ON A NATIONAL SECURITIES
EXCHANGE RELATING TO FOREIGN CURRENCIES; OR
3. THE GUARANTEE OF A SETTLEMENT OF CASH OR
SECURITIES BY OR TO A SECURITIES CLEARING AGENCY.
(II) IN SUBPARAGRAPH (I) OF THIS PARAGRAPH, "SECURITY'
INCLUDES A MORTGAGE LOAN, MORTGAGE-RELATED SECURITIES, AND AN
INTEREST IN ANY MORTGAGE LOAN OR MORTGAGE-RELATED SECURITY.
(9) "SWAP AGREEMENT" MEANS AN AGREEMENT, INCLUDING THE
TERMS AND CONDITIONS INCORPORATED BY REFERENCE IN THE AGREEMENT, THAT
IS A RATE SWAP AGREEMENT, BASIS SWAP, COMMODITY SWAP, FORWARD RATE
AGREEMENT, INTEREST RATE FUTURE, INTEREST RATE OPTION, FORWARD FOREIGN
EXCHANGE AGREEMENT, SPOT FOREIGN EXCHANGE AGREEMENT, RATE CAP
AGREEMENT, RATE FLOOR AGREEMENT, RATE COLLAR AGREEMENT, CURRENCY
SWAP AGREEMENT, CROSS-CURRENCY RATE SWAP AGREEMENT, CURRENCY
FUTURE, CURRENCY OPTION, OR ANY OTHER SIMILAR AGREEMENT, AND INCLUDES
ANY COMBINATION OF AGREEMENTS AND AN OPTION TO ENTER INTO AN
AGREEMENT.
(B) NOTWITHSTANDING ANY OTHER PROVISION OF STATE LAW, A PERSON
MAY NOT BE STAYED OR OTHERWISE PROHIBITED FROM EXERCISING:
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- 3733 -
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