Section 1-405 - Foreign banking corporations. - Maryland Statutes

§ 1-405. Foreign banking corporations.
 

(a)  Definition.- "Foreign banking corporation" has the meaning stated in § 12-201 (e) of this article. 

(b)  Permit or authorization required.- A foreign banking corporation may not have an automated teller machine in this State for any purpose unless: 

(1) The foreign banking corporation obtains from the Commissioner a permit for the automated teller machine; or 

(2) The automated teller machine is authorized under: 

(i) The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 or other federal law; or 

(ii) Title 5, Subtitle 9 or Subtitle 10 of this article. 

(c)  Obtaining permits.- The process for obtaining a permit for the automated teller machine is as stated in §§ 12-208 and 12-209 of this article. 
 

[1999, ch. 34, § 7; ch. 603; 2000, ch. 61, § 1.]