H.B. 1154                                                VETOES

(III) A TRUST COMPANY; OR

(IV) A COMPANY THAT SUBSTANTIALLY COMPETES WITH
NATIONAL BANKS IN THE STATE.                       

(3) "BILLING ADDRESS" MEANS THE LOCATION INDICATED IN THE
BOOKS AND RECORDS OF THE BANK OR TRUST 'COMPANY ON THE FIRST DAY OF THE
TAXABLE YEAR (OR ON SUCH LATER DATE IN THE TAXABLE YEAR WHEN THE
CUSTOMER RELATIONSHIP BEGAN) AS THE ADDRESS WHERE ANY NOTICE,
STATEMENT AND/OR BILL RELATING TO A CUSTOMER'S ACCOUNT IS MAILED.

(4) "BORROWER OR CREDIT CARD HOLDER LOCATED IN THIS STATE"
MEANS:

(I) A BORROWER, OTHER THAN A CREDIT CARD HOLDER, THAT IS
ENGAGED IN A TRADE OR BUSINESS MUCH MAINTAINS ITS COMMERCIAL DOMICILE
IN THIS STATE; OR

(II) A BORROWER THAT IS NOT ENGAGED IN A TRADE OR
BUSINESS OR A CREDIT CARD HOLDER WHOSE BILLING ADDRESS IS IN THIS STATE.

(5) "COMMERCIAL DOMICILE" MEANS;

(I) THE HEADQUARTERS OF THE TRADE OR BUSINESS, THAT IS,
THE PLACE FROM WHICH THE TRADE OR BUSINESS IS PRINCIPALLY MANAGED AND
DIRECTED; OR

(II) IF A BANK OR TRUST COMPANY IS ORGANIZED UNDER THE
LAWS OF A FOREIGN COUNTRY, OR OF THE COMMONWEALTH OF PUERTO RICO, OR
ANY TERRITORY OR POSSESSION OF THE UNITED STATES, SUCH BANK OR TRUST
COMPANY'S COMMERCIAL DOMICILE SHALL BE DEEMED FOR THE PURPOSES OF
THIS ACT TO BE THE STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA
FROM WHICH SUCH BANK OR TRUST COMPANY'S TRADE OR BUSINESS IN THE
UNITED STATES IS PRINCIPALLY MANAGED AND DIRECTED. IT SHALL BE
PRESUMED, SUBJECT TO REBUTTAL, THAT THE LOCATION FROM WHICH THE BANK
OR TRUST COMPANY'S TRADE OR BUSINESS IS PRINCIPALLY MANAGED AND
DIRECTED IS THE STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA
TO WHICH THE GREATEST NUMBER OF EMPLOYEES ARE REGULARLY CONNECTED
OR OUT OF WHICH THEY ARE WORKING, IRRESPECTIVE OF WHERE THE SERVICES
OF SUCH EMPLOYEES ARE PERFORMED, AS OF THE LAST DAY OF THE TAXABLE
YEAR,

(6) "COMPENSATION" MEANS WAGES, SALARIES, COMMISSIONS AND
ANY OTHER FORM OF REMUNERATION PAID TO EMPLOYEES FOR PERSONAL
SERVICES THAT ARE INCLUDED IN SUCH EMPLOYEE'S GROSS INCOME UNDER THE
INTERNAL REVENUE CODE. IN THE CASE OF EMPLOYEES NOT SUBJECT TO THE
INTERNAL REVENUE CODE, THE DETERMINATION OF WHETHER SUCH PAYMENTS
WOULD CONSTITUTE GROSS INCOME TO SUCH EMPLOYEES UNDER THE INTERNAL
REVENUE CODE SHALL BE MADE AS THOUGH SUCH EMPLOYEES WERE SUBJECT TO
THE INTERNAL REVENUE CODE.

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