{"data":{"id":"us-md/md.-code-financial-institutions-9-802","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–802","heading":"","body":"(a) Except as provided under subsection (b) of this section, a foreign association or a savings and loan association that maintains its principal office outside this State may not:\n(1) Have an office for business in this State except for an office that was open for business in this State before June 1, 1955;\n(2) Have an electronic terminal in this State; or\n(3) Be admitted to do business in this State.\n(b) The prohibitions under subsection (a) of this section may not apply to any foreign association that:\n(1) (i) In furtherance of an agreement with the State of Maryland Deposit Insurance Fund Corporation entered into on or before January 1, 1987, becomes a successor in interest to an association that:\n1. Was not federally insured on or before May 18, 1985;\n2. Was a “major association”, as defined under Title 10 of this article, on or before May 19, 1985; and\n3. Is not federally insured on or before April 1, 1986; and\n(ii) Operates the association as a federal association in this State;\n(2) Makes an acquisition in accordance with the provisions of Subtitle 10 of this title; or\n(3) Was operating an office for business in this State on July 1, 1987, in accordance with applicable State or federal law.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-802","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"036629c1915d12d478af40cf1f861715f4194423c359dd7751b2c6d7292a2ef7","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-801","next":"us-md/md.-code-financial-institutions-9-803"},"notice":"GroundRules: Original legal text. Not legal advice."}