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Maryland Code, Financial Institutions § 9-804

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) For the purposes of this article and the Corporations and Associations Article, in addition to the activities listed in §§ 7-103 and 7-104 of the Corporations and Associations Article, the following activities of a foreign association do not constitute doing business or having tax situs in this State:

(1) Making or investing in loans on property in this State;

(2) Purchasing, acquiring, holding, selling, assigning, transferring, collecting, or enforcing by foreclosure or otherwise any whole or partial interest in any obligation secured by a mortgage or similar instrument, covering property in this State; or

(3) Employing an attorney, surveyor, or appraiser in connection with any activity permitted by this section or the servicing and collection of any investment in this State through a corporation that is authorized to do business in this State.

(b) Nothing in this section exempts a foreign corporation from the licensing requirements of Title 11, Subtitle 5 of this article.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 9-804 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-9-804/

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