Section 5-1001 - Definitions. - Maryland Statutes

§ 5-1001. Definitions.
 

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

(b)  Affiliate.- "Affiliate" means any company that controls, is controlled by, or is under common control with another company. 

(c)  Bank.- "Bank" has the meaning stated in the Federal Deposit Insurance Act, 12 U.S.C. § 1813(a)(1). 

(d)  Bank supervisory agency.- "Bank supervisory agency" means: 

(1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any successor to these agencies; or 

(2) An agency of another state with primary responsibility for chartering and supervising banks. 

(e)  Branch.-  

(1) "Branch" means a bank office open to the public at which deposits are received, checks are paid, or money is lent. 

(2) "Branch" includes a mobile branch or other special-purpose facility that performs a function of a branch. 

(3) "Branch" does not include an automated teller machine as defined in § 1-401 of this article. 

(f)  Commercial activities.- "Commercial activities" means activities in which a bank holding company, a financial holding company, a national bank, or a national bank financial subsidiary may not engage under federal law. 

(g)  De novo branch.- "De novo branch" means a branch of an out-of-state bank or banking institution that: 

(1) Is originally established by the out-of-state bank or banking institution as a branch; and 

(2) Does not become a branch of the out-of-state bank or banking institution as a result of: 

(i) The acquisition by the out-of-state bank or banking institution of an insured depository institution or a branch of an insured depository institution; or 

(ii) The conversion, merger, or consolidation of an insured depository institution or a branch of an insured depository institution. 

(h)  Home state.- "Home state" means: 

(1) As to a national banking association, the state in which its main office is located; and 

(2) As to a state-chartered bank, the state by which it is chartered. 

(i)  Home state regulator.- "Home state regulator" means the agency in a bank's home state with primary responsibility for chartering and regulating banks. 

(j)  Host state.- "Host state" means a state, other than the home state of a bank, in which the bank maintains or seeks to establish a branch. 

(k)  Insured depository institution.- "Insured depository institution" means any financial institution the deposits of which are insured by the Federal Deposit Insurance Corporation. 

(l)  National banking association.- "National banking association" means a bank chartered under the National Bank Act. 

(m)  Other-state bank.- "Other-state bank" means a bank chartered and primarily regulated by another state. 

(n)  Out-of-state bank.- "Out-of-state bank" means: 

(1) A national banking association with its main office in a state other than this State; or 

(2) An other-state bank. 
 

[1995, ch. 213, § 2; 2000, ch. 61, § 1; 2006, ch. 636.]