ART. 11] GENERAL REGULATIONS. 251

section, subscribed by him or standing in his name on the books of the
corporation, and that the same is not hypothecated nor in any way
pledged as security for any loan or debt.

1910, ch. 219, sec. 50 (p. 23).

51. Every trust company incorporated under this Article, and also
every trust company heretofore incorporated under any law or laws of
this State, shall be subject to the provisions of this Article; provided,
however, nothing in this Article shall be construed to repeal, modify
or affect any special rights, privileges or powers conferred' upon any
trust company heretofore created under any law of this State/ by their
respective charters, if said companies were organized and doing busi-
ness prior to April 8, 1910.

General Regulations.

1910. ch. 219, sec. 51 (p. 23).

52. The words "Banking Institution," as used in this article, shall
be held to mean incorporated banks, savings institutions and trust com-
panies, and not apply to or include building and loan associations.
As to building and loan associations, see art. 23, sec. 134, et seq.

1910, ch. 219, sec. 52 (p. 23).

53. Every bank and trust company shall keep a stock book, which
shall at all times during the usual hours for the transaction of business
be subject to the inspection of the officers, directors and stockholders of
the bank or trust company. Such book shall show the name and
number of shares held by each stockholder. A refusal by the officers
of such bank or trust company to exhibit such book to any person right-
fully demanding inspection thereof shall subject such officer to a for-
feiture of fifty dollars, which shall be collected by the Bank Commis-
sioner as a common debt. In all actions, suits and proceedings such
book shall be presumptive evidence of the facts therein stated, and at
all stockholders' meetings each share of stock shall entitle the owner of
record to one vote. A stockholder may vote at any meeting of the stock-
holders by proxy.

1910. ch. 219, sec. 53 (p. 24).

54. Any bank or trust company may amend its articles of associa-
tion in any manner not inconsistent with the provisions of law, at any
time, by a vote of its stockholders representing two-thirds of the capital
stock, such vote to be taken at a meeting called for that purpose. Such
amendment, certified by the president and cashier, or treasurer, shall
be filed as required for articles of incorporation. Unless the required
surplus will permit, no increase of capital shall be valid until the
amount thereof has been subscribed and actually paid in. No reduc-
tion of capital shall be made to a less amount than is required under
the provisions of this article for capital, nor be valid nor warrant the
cancellation of stock certificates, or diminish the personal liability of