§12–207.

    (a)    Except as provided in subsection (b) of this section, a foreign banking corporation may not have an office in this State for any purpose unless:

        (1)    The foreign banking corporation obtains from the Commissioner a permit for the office; or

        (2)    The office is authorized under:

            (i)    The Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 or other federal law; or

            (ii)    Title 5, Subtitle 9 or Subtitle 10 of this article.

    (b)    A foreign banking corporation that maintains another license issued by the Commissioner is exempt from obtaining a permit under this section.