Maryland § 8-101

§ 8-101.

    (a)    In this title the following words have the meanings indicated.

    (b)    “Company” means an association, corporation, or joint-stock company.

    (c)    (1)    “Financial institution” means:

            (i)    a credit company;

            (ii)    except as provided in paragraph (2)(i) of this subsection, a finance company;

            (iii)    an international banking facility;

            (iv)    a loan company;

            (v)    a mortgage company;

            (vi)    a safe-deposit company; and

            (vii)    a savings and loan association.

        (2)    “Financial institution” does not include:

            (i)    a finance company that makes loans only to farmers for agricultural purposes;

            (ii)    a company licensed under the federal Small Business Investment Act of 1958;

            (iii)    a corporation that elects to be taxed as a small business corporation under Subchapter S of the Internal Revenue Code;

            (iv)    an entity that is a real estate mortgage investment conduit as defined in the Internal Revenue Code;

            (v)    a limited liability company; or

            (vi)    a commercial bank, savings bank, trust company, or company that substantially competes with national banks in the State.

    (d)    “Savings and loan association” means:

        (1)    a savings and loan association that:

            (i)    is organized under the laws of this State;

            (ii)    is organized under the laws of another state and is admitted to do business in this State; or

            (iii)    is organized under the laws of the United States and has an office in this State; or

        (2)    a savings bank chartered by the Federal Home Loan Bank Board.

    (e)    (1)    “Savings bank” means a company or other institution that is organized to receive deposits of money and pay interest on the deposits.

        (2)    “Savings bank” does not include a bank with capital stock.