H.B. 1328                                                VETOES

be under the new subtitle "Subtitle 10. Branch Banking"
Annotated Code of Maryland                     

(1992 Replacement Volume and 1994 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 5-501; 5-901 through 5-908, inclusive, and the subtitle
"Subtitle 9. Acquisition of Stock in Banks Located in Maryland by Out-of-State Bank
Holding Companies" and Section(s); and 5-1001 through 5-1008, inclusive, and the
subtitle "Subtitle 10. Reciprocal Interstate Banking Acquisitions", of Article - Financial
Institutions of the Annotated Code of Maryland be repealed.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article 48A - Insurance Code

486B.

(c) No bank, savings bank, trust company, savings and loan association, credit union,
industrial finance company, small loan company, or other such organization which is
regulated pursuant to the laws of this State or the United States NOR ANY BANK, SAVINGS
BANK TRUST COMPANY, SAVINGS AND LOAN ASSOCIATION, OR CREDIT
UNION WHICH IS ORGANIZED IN ANOTHER STATE AND HAS A BRANCH IN THIS
STATE nor any insurance company licensed in Maryland which does not engage in the
insurance financing business shall be subject to the provisions of this subtitle nor shall such
organization be required to register or pay the fee therefor.

Article - Commercial Law

12-701.                                                               

(a)     In this subtitle the following words have the meanings indicated.

(c) "Commissioner" means the Commissioner of Consumer Credit, except when used
concerning actions of a [banking institution] BANK, TRUST COMPANY, OR SAVINGS
BANK ORGANIZED UNDER THE LAWS OF ANY STATE AND HAVING A BRANCH
IN THIS STATE, when it shall mean the State Bank Commissioner.

12-901.

(b)     (1) "Credit grantor" means any individual, corporation, business trust.
estate, trust, partnership, association, two or more persons having a joint or common
interest, or any other legal or commercial entity making a loan or other extension of
credit under this subtitle which is incorporated, chartered, or licensed pursuant to State
or federal law, the lending operations of which are subject to supervision, examination,
and regulation by a State or federal agency or which is licensed under Title 12, Subtitle 4
of the Financial Institutions Article or is a retailer.

(2) "Credit grantor" includes:

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