PARRIS N. GLENDENING, Governor                                 Ch. 127

(5) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES INTEREST
AND FEES OR PENALTIES IN THE NATURE OF INTEREST FROM LOANS NOT SECURED
BY REAL PROPERTY IF THE BORROWER IS LOCATED IN THIS STATE.

(6) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES NET GAINS
FROM THE SALE OF LOANS. NET GAINS FROM THE SALE OF LOANS INCLUDES
INCOME RECORDED UNDER THE COUPON STRIPPING RULES OF § 1286 OF THE
INTERNAL REVENUE CODE.

(I) THE AMOUNT OF NET GAINS (BUT MOT LESS THAN ZERO)
FROM THE SALE OF LOANS SECURED BY REAL PROPERTY INCLUDED IN THE
NUMERATOR IS DETERMINED BY MULTIPLYING SUCH NET GAINS BY A FRACTION
THE NUMERATOR OF WHICH IS THE AMOUNT INCLUDED IN THE NUMERATOR OF
THE RECEIPTS FACTOR PURSUANT TO PARAGRAPH (1) OF THIS SUBSECTION AND
THE DENOMINATOR OF WHICH IS THE TOTAL AMOUNT OF INTEREST AND FEES OR
PENALTIES IN THE NATURE OF INTEREST FROM LOANS SECURED BY REAL
PROPERTY.

(II) THE AMOUNT OF NET GAINS (BUT NOT LESS THAN ZERO)
FROM THE SALE OF LOANS NOT SECURED BY REAL PROPERTY INCLUDED IN THE
NUMERATOR IS DETERMINED BY MULTIPLYING SUCH NET GAINS BY A FRACTION
THE NUMERATOR OF WHICH IS THE AMOUNT INCLUDED IN THE NUMERATOR OF
THE RECEIPTS FACTOR PURSUANT TO PARAGRAPH (5) OF THIS SUBSECTION AND
THE DENOMINATOR OF WHICH IS THE TOTAL AMOUNT OF INTEREST AND FEES OR
PENALTIES IN THE NATURE OF INTEREST FROM LOANS NOT SECURED BY REAL
PROPERTY.

(7) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES INTEREST
AND FEES OR PENALTIES IN THE NATURE OF INTEREST FROM CREDIT CARD
RECEIVABLES AND RECEIPTS FROM FEES CHARGED TO CARD HOLDERS, SUCH AS
ANNUAL FEES, IF THE BILLING ADDRESS OF THE CARD HOLDER IS IN THIS STATE.

(8) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES NET GAINS
(BUT NOT LESS THAN ZERO) FROM THE SALE OF CREDIT CARD RECEIVABLES
MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH IS THE AMOUNT
INCLUDED IN THE NUMERATOR OF THE RECEIPTS FACTOR PURSUANT TO
PARAGRAPH (7) OF THIS SUBSECTION AND THE DENOMINATOR OF WHICH IS THE
FINANCIAL INSTITUTION'S TOTAL AMOUNT OF INTEREST AND FEES OR PENALTIES
IN THE NATURE OF INTEREST FROM CREDIT CARD RECEIVABLES AND FEES
CHARGED TO CARD HOLDERS.

(9) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES ALL CREDIT
CARD ISSUER'S REIMBURSEMENT FEES MULTIPLIED BY A FRACTION, THE
NUMERATOR OF WHICH IS THE AMOUNT INCLUDED IN THE NUMERATOR OF THE
RECEIPTS FACTOR PURSUANT TO PARAGRAPH (7) OF THIS SUBSECTION AND THE
DENOMINATOR OF WHICH IS THE FINANCIAL INSTITUTION'S TOTAL AMOUNT OF
INTEREST AND FEES OR PENALTIES IN THE NATURE OF INTEREST FROM CREDIT
CARD RECEIVABLES AND FEES CHARGED TO CARD HOLDERS.

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