242 BANKS AND TRUST COMPANIES. [ART. 11

1910, ch. 219, sec. 27 (p. 14).

27. Any bank organized under this article may reorganize under
the laws of the United States as a national bank. As soon as such
bank shall have obtained the certificate from the Comptroller of the
Currency, authorizing it to commence business under the United States
Banking Law, such reorganized bank shall take and hold all of the
assets, real and personal, of such bank organized under this article,
subject to all liabilities existing against such bank organized under
this article at the time of such reorganization, and shall immediately
notify the Bank Commissioner of such reorganization and transfer.

1910. ch. 219, sec. 28 (p. 14).

28. Any national bank authorized to dissolve, and which shall have
taken the necessary steps to effect dissolution, may reorganize under
this article, upon the consent in writing of the owners of two-thirds of
the capital stock of such bank, and with the approval of the Bank Com-
missioner. Such stockholders shall make, execute and acknowledge
articles of organization as required by this article, and shall set forth
the said written consent of such stockholders. Upon the filing of said
articles as provided by this article, and upon the approved of the Bank
Commissioner, such bank shall be deemed to be reorganized under this
article, and thereupon all assets, real and personal, of such dissolved
national bank shall be vested in and be and become the property of
such reorganized bank, subject to all liabilities of such national bank
not liquidated before such reorganization.

1910. ch. 219, sec. 29 (p. 14).

29. In the event that the Congress of the United States shall here-
after remove the tax on bank circulation or provide for the establish-
ment of circulation of banks organized under State laws, any bank
organized or doing business under this article shall have the power
to issue circulating notes or currency in accordance with any such act
of Congress or under such regulations as the Bank Commissioner of
this State shall prescribe. The provisions of this section shall not be
construed to permit any savings institution or any loan and trust com-
pany, or any other than a corporation doing a strictly banking business,
to issue circulation notes.

1910, ch. 219, sec. 29 A (p. 14).

30. Nothing in this article shall prevent State banks from con-
ducting a savings department.

Savings Institutions.

1910. ch. 219, sec. 30 (p. 15).

31. An association for carrying on the business of savings banking
may be formed by any number of persons not less than fifteen, citizens
of the United States, and a majority of them citizens of this State, who
shall enter into articles of association which shall specify the object for