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Ch. 636 2006 LAWS OF MARYLAND
BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 5-1001 and 5-1003
Annotated Code of Maryland
(2003 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Financial Institutions
5-1001.
(a) In this subtitle the following words have the meanings indicated.
(B) "AFFILIATE" MEANS ANY COMPANY THAT CONTROLS, IS CONTROLLED BY,
OR IS UNDER COMMON CONTROL WITH ANOTHER COMPANY.
[(b)] (C) "Bank" has the meaning stated [in § 2(c) of the federal Bank Holding
Company Act] IN THE FEDERAL DEPOSIT INSURANCE ACT, 12 U.S.C. § 1813(A)(1).
[(c)] (D) "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.
[(d)] (E) (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" 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.
[(e)] (G) "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:
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