<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".03" citation="COMAR 18.03.04.03" title_num="18" subtitle_num="03" chapter_num="04" heading="Exempt Property.">
  <text>A computer program or computer hardware owned and used by a bank or trust company in connection with the processing of deposits or loans is not subject to valuation or property tax.</text>
</regulation>