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44 BANKS AND TRUST COMPANIES. [ART. XI
corporation to engage or continue in business. After the Bank Com-
missioner shall have satisfied himself by such investigation whether it
is expedient, and desirable to permit such proposed corporation to engage
or continue in business, he shall have power to require such changes in
said certificate as he may deem necessary. He shall within sixty days
after the date of the filing of such certificate for examination, endorse
upon each of the triplicates thereof over his official signature, the word
"approved" or the word "refused" with the date of such endorsement.
In case of refusal he shall return one of the triplicates so endorsed to
the proposed incorporators. In case of approval, the triplicates shall
be returned to the proposed incorporators, and shall then be submitted
to one of the Judges of the Judicial Circuit in which the bank is to be
located in order that he may determine whether &aid Articles are framed
in accordance with existing laws. One copy shall then be filed for
record in the office of the Clerk of the Circuit Court in the County in
which the Bank is to be located, or in the office of the Clerk of the
Superior Court of Baltimore City, when to be located in said city, and
one copy shall be filed with the Bank Commissioner, who shall issue his
certificate therefor, and one copy shall be filed with the State Tax Com-
mission. The corporation so formed shall have no legal existence until
all copies of the articles of association have been filed for record as
herein directed. The fee for filing such articles of incorporation with
the Bank Commissioner shall be Ten ($10.00) Dollars, and for filing
amendments to the articles of incorporation Five ($5.00) Dollars, all
such fees to be collected by the Bank Commissioner.
1910, ch. 219, sec. 23 (p. 12). 1918, ch. 33.
23. Upon making and filing of the articles of incorporation, and
upon the payment of the bonus and other taxes required by the laws
of this State, the bank shall become a body corporate, and as such shall
have the following powers:
First. To make all contracts necessary and proper to effect its pur-
pose and conduct its business.
Second. To sue and be sued, to appear and defend in all actions
and proceedings under its corporate name to the same extent as a
natural person.
Third. To have a common seal and to alter the same at pleasure.
Fourth. To elect or appoint all necessary officers, agents and serv-
ants, define their duties and obligations, fix their compensation, dismiss
them, fill vacancies and require bonds.
Fifth. To make, amend and repeal by-laws and regulations, not
inconsistent with law or its articles of organization, for its own govern-
ment, for the orderly conduct of its affairs and the management of its
property, for determining the manner of calling and conducting its
meetings, the tenure of office of its several officers, and such other
matters as shall be necessary or convenient for the accomplishment of
its purpose.
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