H.B. 753
VETOES
(3) THIS SECTION MAY NOT BE CONSTRUED TO PROHIBIT THE
COMPTROLLER FROM COLLECTING TAXES DUE FROM A NONRESIDENT CONTRACTOR
IN ANY OTHER MANNER AUTHORIZED BY LAW.
13-804.
(A) (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
(2) "ACCOUNT", "ACCOUNT HOLDER OF INTEREST", AND "FINANCIAL
INSTITUTION" HAVE THE MEANINGS STATED IN § 10-108.2 OF THE FAMILY LAW
ARTICLE.
(2) (I) "ACCOUNT" MEANS;
1. ANY FUNDS FROM A DEMAND DEPOSIT ACCOUNT,
CHECKING ACCOUNT, NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNT, SAVINGS
ACCOUNT, TIME DEPOSIT ACCOUNT, MONEY MARKET MUTUAL FUND ACCOUNT, OR
CERTIFICATE OF DEPOSIT ACCOUNT;
2. ANY FUNDS PAID TOWARDS THE PURCHASE OF SHARES
OR OTHER INTEREST IN A FINANCIAL INSTITUTION, AS DEFINED IN PARAGRAPH
(4)(II) AND (III) OF THIS SUBSECTION; AND
3. ANY FUNDS OR PROPERTY HELD BY A FINANCIAL
INSTITUTION, AS DEFINED IN PARAGRAPH (4)(IV) OF THIS SUBSECTION.
(II) "ACCOUNT" DOES NOT INCLUDE:
1. AN ACCOUNT OR PORTION OF AN ACCOUNT TO WHICH AN
OBLIGOR DOES NOT HAVE ACCESS DUE TO THE PLEDGE OF THE FUNDS AS SECURITY
FOR A LOAN OR OTHER OBLIGATION;
2. FUNDS OR PROPERTY DEPOSITED TO AN ACCOUNT AFTER
THE TIME THAT THE FINANCIAL INSTITUTION INITIALLY ATTACHES THE ACCOUNT;
3. AN ACCOUNT OR PORTION OF AN ACCOUNT TO WHICH
THE FINANCIAL INSTITUTION HAS A PRESENT RIGHT TO EXERCISE A RIGHT OF
SETOFF;
4. AN ACCOUNT OR PORTION OF AN ACCOUNT THAT HAS AN
ACCOUNT HOLDER OF INTEREST NAMED AS AN OWNER ON THE ACCOUNT; OR
5. AN ACCOUNT OR PORTION OF AN ACCOUNT TO WHICH
THE OBLIGOR DOES NOT HAVE AN UNCONDITIONAL RIGHT OF ACCESS.
(3) "ACCOUNT HOLDER OF INTEREST" MEANS ANY PERSON, OTHER
THAN THE OBLIGOR, WHO ASSERTS AN OWNERSHIP INTEREST IN AN ACCOUNT.
(4) "FINANCIAL INSTITUTION" MEANS'
(I) A DEPOSITORY INSTITUTION, AS DEFINED IN THE FEDERAL
DEPOSIT INSURANCE ACT AT 12 U.S.C. § 1813(C);
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