PARRIS N. GLENDENING, Governor                          H.B. 1154

(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
BANK OR TRUST COMPANY'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 BANK OR TRUST COMPANY'S TOTAL AMOUNT OF
INTEREST AND FEES OR PENALTIES IN THE NATURE OF INTEREST FROM CREDIT
CARD RECEIVABLES AND FEES CHARGED TO CARD HOLDERS.

(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

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