Ch. 127

1995 LAWS OF MARYLAND

(18) (I) "REAL PROPERTY OWNED" AND "TANGIBLE PERSONAL
PROPERTY OWNED" MEAN REAL AND TANGIBLE PERSONAL PROPERTY,
RESPECTIVELY;

1. ON WHICH THE FINANCIAL INSTITUTION MAY CLAIM
DEPRECIATION FOR FEDERAL INCOME TAX PURPOSES; OR

2. PROPERTY TO WHICH THE FINANCIAL INSTITUTION
HOLDS LEGAL TITLE AND ON WHICH NO OTHER PERSON MAY CLAIM DEPRECIATION
FOR FEDERAL INCOME TAX PURPOSES (OR COULD CLAIM DEPRECIATION IF
SUBJECT TO FEDERAL INCOME TAX).

(II) "REAL AND TANGIBLE PERSONAL PROPERTY" DO NOT
INCLUDE COIN, CURRENCY, OR PROPERTY ACQUIRED IN LIEU OF OR PURSUANT TO
A FORECLOSURE.

(19) "RECEIPTS FACTOR" MEANS THE FRACTION RESULTING FROM THE
COMPUTATION IN SUBSECTION (C) OF THIS SECTION.

(20) "REGULAR PLACE OF BUSINESS" MEANS AN OFFICE AT WHICH THE
FINANCIAL INSTITUTION CARRIES ON ITS BUSINESS IN A REGULAR AND
SYSTEMATIC MANNER AND IS CONTINUOUSLY MAINTAINED, OCCUPIED AND USED
BY EMPLOYEES OF THE FINANCIAL INSTITUTION.

(21) "ANOTHER STATE " OR "OTHER STATE" MEANS A STATE OF THE
UNITED STATES OTHER THAN THIS STATE, THE DISTRICT OF COLUMBIA, THE
COMMONWEALTH OF PUERTO RICO, ANY TERRITORY OR POSSESSION OF THE
UNITED STATES OR ANY FOREIGN COUNTRY.

(22) "SYNDICATION" MEANS AN EXTENSION OF CREDIT IN WHICH TWO
OR MORE PERSONS FUND AND EACH PERSON IS AT RISK ONLY UP TO A SPECIFIED
PERCENTAGE OF THE TOTAL EXTENSION OF CREDIT OR UP TO A SPECIFIED DOLLAR
AMOUNT.

(23) "TAXABLE" MEANS;

(I) THAT A FINANCIAL INSTITUTION IS SUBJECT IN ANOTHER
STATE TO A NET INCOME TAX, A FRANCHISE TAX MEASURED BY NET INCOME, A
FRANCHISE TAX FOR THE PRIVILEGE OF DOING BUSINESS, A CORPORATE STOCK
TAX (INCLUDING A BANK SHARES TAX), A SINGLE BUSINESS TAX, OR AN EARNED
SURPLUS TAX, OR ANY TAX WHICH IS IMPOSED UPON OR MEASURED BY NET
INCOME; OR

(II) THAT ANOTHER STATE HAS JURISDICTION TO SUBJECT THE
FINANCIAL INSTITUTION TO ANY OF SUCH TAXES REGARDLESS OF WHETHER, IN
FACT, THE OTHER STATE DOES OR DOES NOT.

(24) "TRANSPORTATION PROPERTY" MEANS VEHICLES AND VESSELS
CAPABLE OF MOVING UNDER THEIR OWN POWER, SUCH AS AIRCRAFT, TRAINS.
WATER VESSELS AND MOTOR VEHICLES, AS WELL AS ANY EQUIPMENT OR
CONTAINERS ATTACHED TO SUCH PROPERTY, SUCH AS ROLLING STOCK, BARGES.
TRAILERS OR THE LIKE.

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