ART. 11] TRUST COMPANIES. ... 157

severally continue in their office until others shall be elected to fill their
respective places. Such election shall be held at the office of the cor-
poration, and at such time and upon such public notice, not less than
ten days, by advertisement in at least one newspaper published in the city
or county where said office is located. Vacancies occurring in the inter-
vals of elections shall be filled by the board. Each director when
appointed or elected shall take an oath that he will, so far as the duty
devolves on him, diligently and honestly administer the affairs of the
corporation, and will not knowingly violate, nor willingly permit to be
violated, any of the provisions of law applicable to such corporation,
and that he is the owner in good faith and in his own right of the num-
ber of shares of stock required by this 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). 1914, ch. 805, sec. 50.

51. Every trust company incorporated under any law or laws of
this State, shall possess the powers and be subject to the provisions of
this Article, and wherever the words "Articles of Association" occur in-
the provisions of this Article, they shall be construed to include legis-
lative charters and Articles of Incorporation ; provided, however, nothing-
in this Article shall 'be construed to repeal, modify or affect any special
right, 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 business prior to April 8th, 1910.

General Regulations.

56.

A summary of the report of a bank made to the state treasurer under
section 12, article 11 of the Code of 1904, and required thereby to be pub-
lished in some newspaper published in the county where the bank is.
located, is not necessarily a copy of the report made to the treasurer;
such publication held to be evidence. Marine Bank v. Sterling, 115 Md.
100.

1910, ch. 219, sec. 57 (p. 26). 1912, ch. 194, sec. 57.

58. Any officer, director or employee of any banking institution who
shall wilfully and knowingly subscribe to or make or cause to be made
any false statement or false entry in the books of any bank, trust com-
pany or savings institution, or shall knowingly subscribe to or exhibit
false papers, with the intent to deceive any person or persons authorized
to examine into the affairs of said bank, trust company or savings insti-
tution, shall be deemed guilty of a felony, and upon conviction thereof
shall he punished by a fine of not more than five thousand dollars, or
by imprisonment in the State Penitentiary for not more than ten (10)
years, or by both fine and imprisonment, in the discretion of the Court,
and also any officer, clerk or employee of any institution subject to the
provisions of this Article who shall accept a deposit, when said institu-