Code of Maryland Regulations
Title 02 - OFFICE OF THE ATTORNEY GENERAL
Subtitle 02 - DIVISION OF SECURITIES
Chapter 02.02.04 - Exemption from Registration Regulations
Section 02.02.04.08 - Bank Securities
Universal Citation: MD Code Reg 02.02.04.08
Current through Register Vol. 51, No. 6, March 22, 2024
A. Federal Savings Banks. For purposes of the Maryland Securities Act, Corporations and Associations Article, § 11-601(3), Annotated Code of Maryland, the term "bank" includes a savings bank organized under the laws of the United States.
B. Exclusions. For purposes of the Maryland Securities Act, Corporations and Associations Article, § 11-601(3), Annotated Code of Maryland, the terms "bank", "savings institution", and "trust company" do not include a bank, savings institution, or trust company that:
(1) Has not received its permanent charter or final approval to operate from the governmental agency to which application is made or that regulates the entity;
(2) Has received a conditional approval to operate for the purpose of raising capital or meeting other regulatory requirements;
(3) Has its charter revoked; or
(4) Is on any form of conditional status.
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