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50 BANKS AND TRUST COMPANIES. [ART. XI
assets of the bank or trust company, after such proposed reduction of
its capital stock, will be entirely sufficient for the payment of the
claims of existing creditors. The provisions of this Section shall he
construed retrospectively as well as prospectively.
1910, ch. 219, sec. 55 (p. 25). 1918, ch. 33, sec. 56.
56. Every bank and trust company shall make to the Bank Com-
missioner not less than five reports during each calendar year, at such
times as the said Bank Commissioner shall require the same, according
to the forms which he shall prescribe and furnish. Such forms shall
conform as nearly as practicable to that required of National Banks,
including the schedules. Such reports shall be signed and verified by
the oath or affirmation of either the president, cashier or treasurer of
such bank or trust company before a Notary Public or Justice of the
Peace; if before a Justice of the Peace, then such Justice shall be
certified to by the Clerk of the Circuit Court or of the Superior Court
of Baltimore City, as the case may be. Such report shall exhibit in
detail and under proper heads the resources and liabilities of the bank
or trust company at the close of the business of any past day by the
Bank Commissioner specified, and shall be transmitted to said Bank
Commissioner within ten days after the receipt of the request from
him. Such reports shall be published in a newspaper of the city or
village or county where such bank or trust company is located, in such
condensed form as may be prescribed by the Bank Commissioner. Proof
of said publication shall be furnished to the said Bank Commissioner
within fifteen days after the receipt of the aforesaid call. At least once
in each year every bank and trust company shall report to the Bank
Commissioner on call by him a list of its stockholders, their residences
and the amount of stock held by each, which report shall be signed and
verified by the oath and affirmation of one of the officers of said bank
or trust company. The Bank Commissioner shall also have the power
to call for special reports from any bank or trust company whenever, in
his judgment, the same is necessary to inform him fully of the condi-
tion of the bank or trust company.
1918, ch. 33, sec. 62B.
62B. Demand Deposits, within the meaning of this Article, shall
comprise all deposits payable within thirty days; and Time Deposits
shall comprise all deposits payable after thirty days, and all savings
accounts and certificates of deposit, which are subject to not less than
thirty days' notice before payment.
1918, ch. 33, sec. 62C.
62C. Notwithstanding anything in this Article contained, any bank-
ing institution which is a member of the Federal Reserve System, shall
not be required to keep any reserve or reserves other than those required
and prescribed for banking institutions which are members of said
federal Reserve System.
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