ART. 11] BANKS. 155

1910, ch. 219, sec. 25 (p. 13). 1914, ch. 805, sec. 25.

25. Whenever articles of incorporation are filed with the Bank Com-
missioner, as herein provided, and the bank transmitting the same noti-
fies the Bank Commissioner that its necessary or required capital has
been duly paid in, in cash, and that such bank has complied with all the
provisions of this Article required, before the bank shall be authorized
to commence business 'the Bank Commissioner shall examine into the
condition of such bank, ascertain whether or not the capital to the
extent of at least one-half has been paid in, the name and place of resi-
dence of each of its directors, and whether such bank has complied with
all the provisions of law required to entitle it to engage in the business
of banking. If, upon such examination, it appears that such bank is
lawfully entitled to commence business, the Bank Commissioner shall
forthwith give to such bank a certificate, under his hand and official seal,
that such bank is authorized to commence business. If the Bank Com-
missioner has reason to believe that the stockholders have formed the
same for any other than the legitimate business contemplated by this
Article, he may, with the advice and consent of the Governor, withhold
the certificate herein mentioned.

Savings Institutions.

31.

For a case involving the right to withdraw bonds deposited by a savings
bank with the state treasurer, upon the repeal of the law requiring such
deposit, see Vandiver v. Fidelity Savings Bank, 120 Md. 619.

1910, ch. 219, sec. 35 (p. 16). 1912, ch. 194, sec. 35.

36. The treasurer of every savings institution without capital stock
shall annually within twenty days after the last of December make a
report to the Bank Commissioner showing accurately the condition
thereof at the close of business on the said last day of December. The
report shall specify the following particulars, viz: The name of institu-
tion, number of depositors, amount of deposits, amount of guarantee
funds, undivided surplus and other liabilities, if any; an itemized list
of all stocks and bonds owned, giving the par value, book value and
market value of each; the amount loaned upon pledge of securities of
whatever kind, designating each particular loan with a statement of the
securities pledged therefor and the estimated market value thereof; the
amount loaned upon mortgage on real estate, the amount of each mort-
gage, the location of the mortgaged premises and the estimated value
thereof; the amount invested in real estate and ground rents, the loca-
tion of each ground rent and each piece of real estate owned and the
book and estimated market value thereof; the amount of cash on hand
or on deposit, with the name of each depository; amount of deposits
received during the year, amount of interest and other items received;
amount of deposits paid out, expenses, taxes and other items paid, and
premiums and other items charged off; number of accounts opened and
closed during the year, and amount of interest credited to depositors.