Ch. 326                                    1996 LAWS OF MARYLAND

(2) Pay to the [Bank] Commissioner the application fee set by the [Bank]
Commissioner.

12-209.

On application for a permit, the [Bank] Commissioner, after receiving the advice
of the Banking Board, shall issue the permit, if the [Bank] Commissioner determines
that the establishment and operations of the proposed office or electronic terminal will
not violate any law of this State that applies to banks and banking.

12-210.

(a)     A permit expires on the second anniversary of its effective date, unless the
permit is renewed for a 2-year term as provided in this section.

(b)     Before its permit expires, the foreign banking corporation may renew the
permit for additional 2-year terms if the foreign banking corporation:

(1)     At least 30 days before its permit expires:

(i) Submits to the [Bank] Commissioner a renewal application on the
form that the [Bank] Commissioner requires; and

(ii) Pays to the [Bank] Commissioner the renewal fee set by the
[Bank] Commissioner; and

(2)     Meets the requirements for issuance of a permit under § 12-209 of this
subtitle.

(c)     The [Bank] Commissioner shall renew the permit of each foreign banking
corporation that meets the requirements of this section.

12-211.

The [Bank] Commissioner shall set the application and renewal fees in amounts
that reasonably relate to the cost of processing the applications.

12-401.

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

(b)     (1) "Agent" means a person who is authorized by a licensee to issue or sell
payment instruments or traveler's checks under the name of the licensee at any location
other than the place of business specified in the license.

(2) "Agent" does not include a branch office of a licensee.

(C) "COMMISSIONER" MEANS THE COMMISSIONER OF FINANCIAL

REGULATION.

[(c)] (D) "License" means a license issued by the [Bank] Commissioner under
this subtitle to issue or sell payment instruments or traveler's checks.

[(d)](E) "Outstanding" means sold in the United States and reported to the
licensee.

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