Section 12-207 - Offices restricted; exemption. - Maryland Statutes

§ 12-207. Offices restricted; exemption.
 

(a)  In general.- Except as provided in subsection (b) of this section, a foreign banking corporation may not have an office in this State for any purpose unless: 

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

(2) The office 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. 

(b)  Exemption.- A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section. 
 

[An. Code 1957, art. 11, §§ 31A, 32; 1980, ch. 33, § 2; 1985, ch. 113; 1995, ch. 213, § 2; 1996, ch. 326, § 2; 1999, ch. 603; 2000, ch. 61, § 1; 2008, ch. 89.]