HARRY HUGHES, Governor

901

REVISOR'S NOTE: This subsection is new language added to
allow concise reference to collateral. See also
subsection (d) of this section.

(D)  DEPOSIT INSURANCE.

"DEPOSIT INSURANCE" MEANS INSURANCE BY:

(1)  THE FEDERAL DEPOSIT INSURANCE CORPORATION;

(2)  THE FEDERAL SAVINGS AND LOAN INSURANCE
CORPORATION; OR

(3)  THE MARYLAND SAVINGS-SHARE INSURANCE CORPORATION.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from former Art. 95, §
21A(a)(5) through (7).

(E)  FINANCIAL INSTITUTION.
"FINANCIAL INSTITUTION" MEANS:

(1)  ANY BANKING INSTITUTION;

(2)  ANY NATIONAL BANKING ASSOCIATION;

(3)  AN INSTITUTION THAT IS INCORPORATED UNDER THE
LAWS OF ANY OTHER STATE AS A BANK; AND

(4)  AN INSTITUTION THAT IS INCORPORATED UNDER THE
LAWS OF THIS STATE OR OF THE UNITED STATES AS A SAVINGS AND LOAN
ASSOCIATION.

REVISOR'S NOTE: This subsection is new language added to
avoid repetition of the former enumerations of
financial institutions.

This addition is based on the most detailed former
enumeration, which appeared in the first sentence of
former Art. 95, § 21(a). That sentence read, in part,
"in a bank or banks as he may so select, or in a trust
company or trust companies, incorporated under the
laws of this State and doing business therein, or in a
savings and loan association or savings and loan
associations, or in a building and loan association or
building and loan associations, incorporated under the
laws of the United States or incorporated under the
laws of this State".

Item (1) of this subsection reflects the former words
"bank or banks", as those former words related to
institutions incorporated under the laws of this State
as State banks or savings banks, and also the former