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<section article="gfi" article_name="Financial Institutions" number="12-201" title_number="12" title_name="Miscellaneous Institutions and Activities" subtitle_number="2" subtitle_name="Foreign Banks">
  <level label="a">
    <text>In this subtitle the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <text>“Affiliated corporation” means any corporation, whether incorporated under the laws of this State or of any other jurisdiction, of which 25 percent or more of the outstanding voting shares are owned of record or beneficially by:</text>
    <level label="1">
      <text>A foreign bank; or</text>
    </level>
    <level label="2">
      <text>Persons who own of record or beneficially 25 percent or more of the outstanding voting shares of a foreign bank.</text>
    </level>
  </level>
  <level label="c">
    <text>“Bank holding company” means a corporation that owns of record or beneficially 25 percent or more of the outstanding voting shares of:</text>
    <level label="1">
      <text>A state banking institution that has its principal banking office in this State; or</text>
    </level>
    <level label="2">
      <text>A national banking association that has its principal banking office in this State.</text>
    </level>
  </level>
  <level label="d">
    <text>“Foreign bank” means any bank or trust company other than:</text>
    <level label="1">
      <text>A state banking institution that has its principal banking office in this State; and</text>
    </level>
    <level label="2">
      <text>A national banking association that has its principal banking office in this State.</text>
    </level>
  </level>
  <level label="e">
    <text>“Foreign banking corporation” means:</text>
    <level label="1">
      <text>A foreign bank; or</text>
    </level>
    <level label="2">
      <text>Any corporation that:</text>
      <level label="i">
        <text>Is controlled by a foreign bank;</text>
      </level>
      <level label="ii">
        <text>Controls a foreign bank; or</text>
      </level>
      <level label="iii">
        <text>Is controlled by persons who control a foreign bank or foreign bank holding company.</text>
      </level>
    </level>
  </level>
</section>
