§ 12-207. Offices restricted; exemption

Latest version.

   (a) In general. -- 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) Exemption. -- A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.

HISTORY: An. Code 1957, art. 11, § 31A, 32; 1980, ch. 33, § 2; 1985, ch. 113; 1995, ch. 213, § 2; 1996, ch. 326, § 2; 1999, ch. 603; 2000, ch. 61, § 1; 2008, ch. 89.

                    
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