clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1912
Volume 370, Page 383   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 383

or in possession of any assets of such institution, and shall also
cause such notice to be given by advertisement in such news-
papers as he may direct, and also to cause a notice to be posted
on the front door of such institution as follows: "This institu-
tion is in charge of the Bank Commissioner." Immediately
upon posting said last-mentioned notice by the Bank Commis-
sioner, the property, assets and business of such institution shall
be considered to be in the possession of the Bank Commissioner
which fact shall operate as a bar to any and all attachments,
liens, executions or distraints of any kind, and shall also oper-
ate to place the assets of said institution in the hands of said
Bank Commissioner, as receiver, the same as if he had been
appointed by an order of Court. Such institution may with
the consent of the Bank Commissioner, or with the consent of

the Court, resume business upon such conditions as the Bank
Commissioner may approve. Immediately upon taking posses-
sion of the property and business of said institution, the Bank
Commissioner shall forthwith cause proper proceedings to be
instituted in the name of the State of Maryland versus said
institution, in a Court of competent jurisdiction for the pur-
pose of having the Court assume jurisdiction over its property
and business for final liquidation.

The said Bank Commissioner shall receive no additional com-
pensation for his services as receiver, but shall be allowed his
actual expenses subject to the Court's orders.

16. The examination of banking institutions by the Bank
Commissioner shall be paid for by such institutions at the
following rate for the annual examination: When the aggregate
assets of the institution are fifty thousand dollars or less,
twenty dollars; when more than fifty thousand dollars but less
than one hundred and fifty thousand dollars, thirty dollars;
when more than one hundred and fifty thousand but less than
two hundred and fifty thousand dollars, forty dollars; when
more than two hundred and fifty thousand but less than
five hundred thousand dollars, fifty dollars; when more than
five hundred thousand but less than one million, sixty
dollars; when more than one million but less than three mil-
lions, seventy-five dollars; when more than three million but
less than six million, one hundred dollars; when more than six
million but less than ten million, one hundred and fifty dollars;
when more than ten million but less than fifteen million, two
hundred dollars; when more than fifteen million but less than
twenty-five million, two hundred and fifty dollars; when more
than twenty-five million but less than forty million, three hun-
dred dollars; when more than forty million, four hundred dol-

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1912
Volume 370, Page 383   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact msa.helpdesk@maryland.gov.

©Copyright  October 06, 2023
Maryland State Archives