§ 12-207
97 words·~1 min read·
/md/financial-institutions/12-207A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§12–207.
(a)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)A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.