{"data":{"id":"us-md/md.-code-tax-general-8-101","jurisdiction":"us-md","citation":"Md. Code, Tax - General § 8–101","heading":"","body":"(a) In this title the following words have the meanings indicated.\n(b) “Company” means an association, corporation, or joint-stock company.\n(c) (1) “Financial institution” means:\n(i) a credit company;\n(ii) except as provided in paragraph (2)(i) of this subsection, a finance company;\n(iii) an international banking facility;\n(iv) a loan company;\n(v) a mortgage company;\n(vi) a safe-deposit company; and\n(vii) a savings and loan association.\n(2) “Financial institution” does not include:\n(i) a finance company that makes loans only to farmers for agricultural purposes;\n(ii) a company licensed under the federal Small Business Investment Act of 1958;\n(iii) a corporation that elects to be taxed as a small business corporation under Subchapter S of the Internal Revenue Code;\n(iv) an entity that is a real estate mortgage investment conduit as defined in the Internal Revenue Code;\n(v) a limited liability company; or\n(vi) a commercial bank, savings bank, trust company, or company that substantially competes with national banks in the State.\n(d) “Savings and loan association” means:\n(1) a savings and loan association that:\n(i) is organized under the laws of this State;\n(ii) is organized under the laws of another state and is admitted to do business in this State; or\n(iii) is organized under the laws of the United States and has an office in this State; or\n(2) a savings bank chartered by the Federal Home Loan Bank Board.\n(e) (1) “Savings bank” means a company or other institution that is organized to receive deposits of money and pay interest on the deposits.\n(2) “Savings bank” does not include a bank with capital stock.","path":["Article - Tax - General"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gtg\u0026section=8-101","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:01:18Z","sha256":"60290deb87e07e6707ead1bea2fbeb9a1e69ccb6b477476b8d352dd1b3ac4236","source_id":"us-md","stale":false,"prev":"us-md/md.-code-tax-general-7.5-301","next":"us-md/md.-code-tax-general-8-102"},"notice":"GroundRules: Original legal text. Not legal advice."}