Maryland Code, FINANCIAL INSTITUTIONS 12-201
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 12-201
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(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.