152 BANKS AND TRUST COMPANIES. [ART. 11

1910, ch. 219, sec. 9 (p. 8). 1912, ch. 194, sec. 9.

9. Whenever the Bank Commissioner shall, upon examination have
reason to believe that the capital stock of any institution to which this
Article is applicable, is reduced by impairment, the said Bank Commis-
sioner may require such institution to make good the deficiency within
sixty days after the day of such requisition, and if said institution shall
fail to comply with said request within the time prescribed, the Bank
Commissioner may forthwith take possession of the property and busi-
ness of such institution and retain such possession until such institution
shall resume business or its affairs be finally liquidated as herein pro-
vided.

See notes to this section (as it stood in 1911) in volume 1 of the Anno-
tated Code.

1910, ch. 219, sec. 10 (p. 9). 1912, ch. 194. 1914, ch. 805, sec. 10.

10. Whenever it shall appear to the Bank Commissioner upon exami-
nation, that any institution to which this Article is applicable, is con-
ducting its business in an unsafe, or unauthorized manner, or if any
such institution shall refuse to submit its books, papers and concerns to
the examination of the bank commissioner, or if any such institution
shall neglect or refuse to observe an order of the Bank Commissioner as
specified in Section 9 of this Article, the Bank Commissioner may, with
the written consent of the Governor and Attorney-General obtained prior
thereto forthwith take possession of the property and business of such
institution and retain possession until such institution shall resume
business or its affairs be finally liquidated as herein provided. On tak-
ing possession of the property and business of any such institution the
Bank Commissioner shall forthwith give notice of such fact to any and
all banks, trust companies, association, and individuals holding or in
possession of any assets of such institution, and shall also cause such
notice to be given by Advertisement in such newspapers as he may direct,
and also to cause a notice to be posted on the front door of such institu-
tion as follows: "This institution is in charge of the Bank Commis-
sioner." Immediately upon posting said last mentioned notice by the
Bank Commissioner, the property, assets and business of such institu-
tion shall be considered to be in the possession of the Bank Commis-
sioner, which fact .shall operate as a bar to any and all attachments,
liens, executions or distraints of any kind, and shall also operate to
place the assets of said institution in the hands of said Bank Commis-
sioner, as receiver, the same as if he had been appointed by an order of
court. Such institution may with the consent of the Bank Commis-
sioner, or with the consent of the court, resume business upon such con-
ditions as the Bank Commissioner may approve. Immediately upon
taking possession 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 purpose of having the court