Ch. 681                                    1997 LAWS OF MARYLAND

CHAPTER 681
(House Bill 616)

AN ACT concerning

Foreign Corporations - National Banks - Exceptions to Registration and Qualification

Requirements

FOR the purpose of providing an exception for national banks that do not maintain a
branch in this State to the registration and qualification requirements for foreign
corporations doing business in this State.

BY repealing and reenacting, with amendments,
Article - Corporations and Associations
Section 7-201

Annotated Code of Maryland
(1993 Replacement Volume and 1996 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Corporations and Associations

7-201.

This subtitle does not apply to:

(1)     An insurance company subject to the provisions of [Article 48A of the
Code] THE INSURANCE ARTICLE;

(2)     A railroad operating in this State;

(3)     A national bank [with] THAT:

(I)      HAS its main office located in this State; OR

(II)     DOES NOT MAINTAIN A BRANCH IN THIS STATE; or

(4)     A federal credit union.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 22, 1997.

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