Ch. 127                                        1995 LAWS OF MARYLAND

THE FINANCIAL INSTITUTION WITHIN THIS STATE AND THE DENOMINATOR OF
WHICH IS THE AVERAGE VALUE OF ALL SUCH ASSETS.

4. FOR PURPOSES OF THIS SUBPARAGRAPH, AVERAGE
VALUE SHALL BE DETERMINED USING THE RULES FOR DETERMINING THE
AVERAGE VALUE OF TANGIBLE PERSONAL PROPERTY SET FORTH IN PARAGRAPHS
(3) AND (1) OF SUBSECTION (D) OF THIS SECTION.

(III) IN LIEU OF USING THE METHOD SET FORTH IN

SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE FINANCIAL INSTITUTION MAY
ELECT, OR THE DEPARTMENT MAY REQUIRE IN ORDER TO FAIRLY REPRESENT THE
BUSINESS ACTIVITY OF THE FINANCIAL INSTITUTION IN THIS STATE, THE USE OF
THE METHOD SET FORTH IN THIS SUBPARAGRAPH.

1. THE AMOUNT OF INTEREST, DIVIDENDS, NET GAINS (BUT
NOT LESS THAN ZERO) AND OTHER INCOME FROM INVESTMENT ASSETS AND
ACTIVITIES IN THE INVESTMENT ACCOUNT TO BE ATTRIBUTED TO THIS STATE AND
INCLUDED IN THE NUMERATOR IS DETERMINED BY MULTIPLYING ALL SUCH
INCOME FROM SUCH ASSETS AND ACTIVITIES BY A FRACTION, THE NUMERATOR OF
WHICH IS THE GROSS INCOME FROM SUCH ASSETS AND ACTIVITIES WHICH ARE
PROPERLY ASSIGNED TO A REGULAR PLACE OF BUSINESS OF THE FINANCIAL
INSTITUTION WITHIN THIS STATE AND THE DENOMINATOR OF WHICH IS THE GROSS
INCOME FROM ALL SUCH ASSETS AND ACTIVITIES.

2. THE AMOUNT OF INTEREST FORM FEDERAL FUNDS SOLD
AND PURCHASED AND FROM SECURITIES PURCHASED UNDER RESALE
AGREEMENTS AND SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
ATTRIBUTABLE TO THIS STATE AND INCLUDED IN THE NUMERATOR IS
DETERMINED BY MULTIPLYING THE AMOUNT DESCRIBED IN ITEM 1 OF
SUBPARAGRAPH (I) OF THIS PARAGRAPH FROM SUCH FUNDS AND SUCH SECURITIES
BY A FRACTION, THE NUMERATOR OF WHICH IS THE GROSS INCOME FROM SUCH
FUNDS AND SUCH SECURITIES WHICH ARE PROPERLY ASSIGNED TO A REGULAR
PLACE OF BUSINESS OF THE FINANCIAL INSTITUTION WITHIN THIS STATE AND THE
DENOMINATOR OF WHICH IS THE GROSS INCOME FORM ALL SUCH FUNDS AND SUCH
SECURITIES.

3. THE AMOUNT OF INTEREST, DIVIDENDS, GAINS AND
OTHER INCOME FROM TRADING ASSETS AND ACTIVITIES, INCLUDING BUT NOT
LIMITED TO ASSETS AND ACTIVITIES IN THE MATCHED BOOK, IN THE ARBITRAGE
BOOK AND FOREIGN CURRENCY TRANSACTIONS (BUT EXCLUDING AMOUNTS
DESCRIBED IN ITEMS 1 AND 2 OF THIS SUBPARAGRAPH) ATTRIBUTABLE TO THIS
STATE AND INCLUDED IN THE NUMERATOR IS DETERMINED BY MULTIPLYING THE
AMOUNT DESCRIBED IN ITEM 2 OF SUBPARAGRAPH (I) OF THIS PARAGRAPH BY A
FRACTION, THE NUMERATOR OF WHICH IS THE GROSS INCOME FROM SUCH
TRADING ASSETS AND ACTIVITIES WHICH ARE PROPERLY ASSIGNED TO A REGULAR
PLACE OF BUSINESS OF THE FINANCIAL INSTITUTION WITHIN THIS STATE AND THE
DENOMINATOR OF WHICH IS THE GROSS INCOME FROM ALL SUCH ASSETS AND
ACTIVITIES.

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