(a) In this subtitle the following words have the meanings indicated. (b) "Affiliated corporation" means any corporation, whether incorporated under the laws of this State or of any other jurisdiction, of which 25 percent or more of the outstanding voting shares are owned of record or beneficially by: (1) A foreign bank; or (2) Persons who own of record or beneficially 25 percent or more of the outstanding voting shares of a foreign bank. (c) "Bank holding company" means a corporation that owns of record or beneficially 25 percent or more of the outstanding voting shares of: (1) A state banking institution that has its principal banking office in this State; or (2) A national banking association that has its principal banking office in this State. (d) "Foreign bank" means any bank or trust company other than: (1) A state banking institution that has its principal banking office in this State; and (2) A national banking association that has its principal banking office in this State. (e) "Foreign banking corporation" means: (1) A foreign bank; or (2) Any corporation that: (i) Is controlled by a foreign bank; (ii) Controls a foreign bank; or (iii) Is controlled by persons who control a foreign bank or foreign bank holding company.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.