§ 9-804

Maryland § 9-804

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 9

Text

(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.