Sec. 02.02.04.14. Exemption from the Maryland Securities Act, Corporations and Associations Article, §11-601(16), Annotated Code of Maryland, for Certain Securities

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The following securities are exempt from registration filings under the Maryland Securities Act, Corporations and Associations Article, §§11-205 and 11-501, Annotated Code of Maryland, provided that the exemption may be revoked with respect to a specific security pursuant to the Maryland Securities Act, Corporations and Associations Article, §11-603: Mortgage-related securities, as defined under §3(A)(41) of the federal Securities Exchange Act of 1934, and the rules, regulations, and interpretive releases promulgated under it.

                    
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