Maryland Code, FINANCIAL INSTITUTIONS 1-101
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 1-101
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- including: means includes or including by way of illustration and not by way of limitation. See
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal representative: includes an administrator and an executor. See
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See - Trustee: A person or institution holding and administering property in trust.
(b) “Address” means post office address, including, if applicable, street and number, municipal area or county, state, and, if outside of the United States, country.
(c) “Any state” means:
(1) Any state, possession, or territory of the United States;
(2) The District of Columbia; or
(3) The Commonwealth of Puerto Rico.
(d) “Banking institution” means an institution that is incorporated under the laws of this State as a State bank, trust company, or savings bank.
(e) “Charter” has the meaning stated in § 1-101 of the Corporations and Associations Article.
(f) “Commercial bank” means an institution that is incorporated under the laws of this State as a State bank or trust company.
(g) “Commissioner” means the Commissioner of Financial Regulation in the Maryland Department of Labor.
(h) “County” means a county of this State and, unless otherwise indicated, Baltimore City.
(i) “Credit union” means a credit union that is incorporated under the laws of this State as a credit union.
(j) “Financial institution” means any financial institution of the type supervised under this article, whether or not State-chartered.
(k) (1) “Foreign bank” means any financial institution or other institution that engages in banking activities that are usual in connection with the business of banking in the nations in which the institution is organized or operates.
(2) “Foreign bank” does not include a bank organized under the laws of any state or a national banking association that has its headquarters in any state.
(l) “Includes” or “including” means includes or including by way of illustration and not by way of limitation.
(m) “Mail” means to deposit in the United States mail, postage prepaid.
(n) “Mortgage” includes a deed of trust that secures a debt or the performance of an obligation.
(o) “Municipal area” means a municipal corporation or an unincorporated city, town, or village.
(p) “National banking association” means an institution that is incorporated under federal law as a bank.
(q) “Nationwide Mortgage Licensing System and Registry” or “NMLS” means a multistate uniform licensing system developed and maintained by the Conference of State Bank Supervisors, or by a subsidiary or an affiliate of the Conference of State Bank Supervisors, that may be used for the licensing and registration of persons required to be licensed or registered under this article or the Commercial Law Article.
(r) “Other-state bank” means a bank chartered and primarily regulated by another state.
(s) “Other-state credit union” means a credit union chartered and primarily regulated by another state.
(t) “Person” means an individual, receiver, trustee, guardian, personal representative, fiduciary, or representative of any kind and any partnership, firm, association, corporation, or other entity.
(u) “Political subdivision” means:
(1) A county or municipal corporation of this State; and
(2) Unless the context requires otherwise, a special taxing district of this State.
(v) “Real property” includes any interest in real property.