Ch. 2

LAWS OF MARYLAND

Paragraph (2) of this subsection does not create an
exception for those savings banks that are included as
savings and loan associations under subsection (d)(2)
of this section.

As to the transfer of former Art. 81, § 128(a) through
(h-1) to the Session Laws, see the General Revisor's
Note to Subtitle 2 of this title.

Defined term: "Company" § 8-101

REVISOR'S NOTE TO SECTION: Former Art, 81, § 128A(a)(l),
which defined, the word "Director", is deleted since,
by Ch. 554, Acts of 1987, the duties of the "Director"
were transferred to the "Department". In the few
instances where the reference to the "Director" was
retained in the former law, the defined term
"Department" is substituted in this revision, to
conform to the apparent intent of Ch. 554.

8-102. FRANCHISE TAXES.

THE FRANCHISE TAXES UNDER THIS TITLE ARE IMPOSED FOR THE
PRIVILEGE OF DOING BUSINESS IN THE STATE.

REVISOR'S NOTE: This section is new language added to
clarify the nature of the taxes imposed under this
title.

SUBTITLE 2. FINANCIAL INSTITUTION FRANCHISE TAX.

8-201. DEFINITIONS.

(A)  IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

REVISOR'S NOTE: This subsection formerly appeared as the
first sentence of Art. 81, § 128A(a).

The only changes are in style.

(B)  APPROVED FOREIGN TRADE ZONE.

"APPROVED FOREIGN TRADE ZONE" MEANS AN AREA DESIGNATED AS A
FOREIGN TRADE ZONE UNDER ARTICLE 23, §§ 466 THROUGH 469 OF THE
CODE.

REVISOR'S NOTE:. This subsection formerly appeared as Art.
81, § l28A(a)(4).

The former reference to "the Federal Trade Zones Act
(19 U.S.C. 81a, et seq.)" is deleted as unnecessary in
light of the reference to "Article 23, §§ 466 through

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