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Section 1-405 - Foreign Banking Corporation — Maryland Law | CourtGPT
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  7. Section 1-405 - Foreign Banking Corporation
Maryland Legal Code

Section 1-405 - Foreign Banking Corporation

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(a) 'Foreign banking corporation' has the meaning stated in § 12-201(e) of this article. (b) A foreign banking corporation may not have an automated teller machine in this State for any purpose unless: (1) The foreign banking corporation obtains from the Commissioner a permit for the automated teller machine; or (2) The automated teller machine 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. (c) The process for obtaining a permit for the automated teller machine is as stated in §§ 12-208 and 12-209 of this article.