Ch. 127                                        1995 LAWS OF MARYLAND

(10) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES RECEIPTS
FROM MERCHANT DISCOUNT IF THE COMMERCIAL DOMICILE OF THE MERCHANT IS
IN THIS STATE. SUCH RECEIPTS SHALL BE COMPUTED NET OF ANY CARDHOLDER
CHARGE BACKS, BUT SHALL NOT BE REDUCED BY ANY INTERCHANGE
TRANSACTION FEES OR BY ANY ISSUER'S REIMBURSEMENT FEES PAID TO ANOTHER
FOR CHARGES MADE BY ITS CARD HOLDERS.

(11) (I) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES LOAN
SERVICING FEES DERIVED FROM LOANS SECURED BY REAL PROPERTY MULTIPLIED
BY A FRACTION THE NUMERATOR OF WHICH IS THE AMOUNT INCLUDED IN THE
NUMERATOR OF THE RECEIPTS FACTOR PURSUANT TO PARAGRAPH (4) 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 NUMERATOR OF THE RECEIPTS FACTOR INCLUDES LOAN
SERVICING FEES DERIVED FROM LOANS NOT SECURED BY REAL PROPERTY
MULTIPLIED 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.

(III) IN CIRCUMSTANCES IN WHICH THE FINANCIAL INSTITUTION
RECEIVES LOAN SERVICING FEES FOR SERVICING EITHER THE SECURED OR THE
UNSECURED LOANS OF ANOTHER, THE NUMERATOR OF THE RECEIPTS FACTOR
SHALL INCLUDE SUCH FEES IF THE BORROWER IS LOCATED IN THIS STATE.

(12) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES RECEIPTS
FROM SERVICES NOT OTHERWISE APPORTIONED UNDER THIS SUBSECTION IF THE
SERVICE IS PERFORMED IN THIS STATE. IF THE SERVICE IS PERFORMED BOTH
WITHIN AND WITHOUT THIS STATE, THE NUMERATOR OF THE RECEIPTS FACTOR
INCLUDES RECEIPTS FROM SERVICES NOT OTHERWISE APPORTIONED UNDER THIS
SUBSECTION, IF A GREATER PROPORTION OF THE INCOME PRODUCING ACTIVITY IS
PERFORMED IN THIS STATE BASED ON COST OF PERFORMANCE.

(13) (I) INTEREST, DIVIDENDS, NET CAINS (BUT NOT LESS THAN ZERO)
AND OTHER INCOME FROM INVESTMENT ASSETS AND ACTIVITIES AND FROM
TRADING ASSETS AND ACTIVITIES SHALL BE INCLUDED IN THE RECEIPTS FACTOR-
INVESTMENT ASSETS AND ACTIVITIES AND TRADING ASSETS AND ACTIVITIES
INCLUDE BUT ARE NOT LIMITED TO: INVESTMENT SECURITIES; TRADING ACCOUNT

ASSETS; FEDERAL FUNDS; SECURITIES PURCHASED AND SOLD UNDER

AGREEMENTS TO RESELL OR REPURCHASE; OPTIONS; FUTURE CONTRACTS;
FORWARD CONTRACTS; NOTIONAL PRINCIPAL CONTRACTS SUCH AS SWAPS;
EQUITIES; AND FOREIGN CURRENCY TRANSACTION. WITH RESPECT TO THE
INVESTMENT AND TRADING ASSETS AND ACTIVITIES DESCRIBED IN ITEMS 1 AND 2
OF THIS SUBPARAGRAPH, THE RECEIPTS FACTOR SHALL INCLUDE THE AMOUNTS
DESCRIBED IN SUCH ITEMS.

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