Volume 152, Page 15 View pdf image (33K) |
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MARYLAND MANUAL. 15 Junior Examiner: Arthur N. Englar, Jr - - Baltimore Junior Examiner: Frank H. Hoffmaster Baltimore Junior Examiner: Alton R. Middlekauff Baltimore Junior Examiner: H. Sadtler Nolen.. - Baltimore Junior Examiner: Wm. W. Rhodes Baltimore Junior Examiner: Julius Scriba Baltimore Junior Examiner: Louis G. Shipley - Baltimore Junior Examiner: Edward R. Sudsburg Baltimore Senior Stenographer: Hazel Mae Albrecht Baltimore Senior Stenographer: Anna Mae Cooke - Baltimore Senior Stenographer: Madeleine R. Duggan Baltimore Senior Stenographer: Winifred A. Duggan Baltimore Senior Stenographer:. Angela M. O’Neill Baltimore The Bank Commissioner under the law has general supervision over all banking institutions in the State (other than National Banks). He is required to visit and examine, either in person or by deputy, each institution at least twice a year, and at such other times as he may deem expedient and at any time upon the request of the directors of the institution. Whenever the capital stock of an institution is re- duced by impairment, and such impairment is not made good as pre- scribed by the law, or whenever it is found that an institution is being conducted in an unsafe manner, the Bank Commissioner may take pos- session, as provided by law, and retain possession until it resumes business or is finally liquidated. In case of the failure of any banking institution (other than a National Bank) the Bank Commissioner acts as Receiver and liquidates its assets and winds up its affairs under the jurisdiction of the Court. The Bank Commissioner may substitute the Deputy Bank Commis- sioner or a Senior Examiner as Receiver of any such Banking Insti- tution. Every’ bank and trust company is required to submit to the Bank Commissioner, under oath at least three reports in each calendar year; such reports to exhibit in detail the resources and liabilities of the in- stitution, and show its true condition. These reports are to be pub- lished in the local newspapers. All mutual savings institutions are re- quired to report their condition to the Bank Commissioner on June 30th and December 31st of each year. It is the duty of the Bank Commissioner to examine each report received from the institutions under his supervision, and when neces- sary, to verify them, at the same time to correct any irregularities that may be disclosed or make any recommendations that may seem advisable. |
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Volume 152, Page 15 View pdf image (33K) |
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