2814 ARTICLE 90.

An. Code, sec. 8. 1906, ch. 453.

8. When the surety or sureties on the bond of any bank used as a
depository for the funds of the State by the state treasurer shall notify the
governor and the state treasurer of their or its desire to he relieved from
further liability as such surety, the state treasurer may, in his discretion,
immediately demand of such bank a new bond with good and sufficient
surety or sureties; if such bank shall not within thirty days after service
of notice upon it by the state treasurer furnish new bond with good and
sufficient surety or sureties to be approved by the governor, it shall be
the duty of the state treasurer to immediately withdraw all moneys of the
State deposited with the said bank. Upon the approval and acceptance by
the governor of the above mentioned new bond, and upon the payment of
all moneys then due by such bank to the State, petitioning surety or
sureties shall be released from any further liability on the bond executed
by him, it or them.

An. Code, sec. 8A. 1916, ch. 115.

9. When the surety or sureties on the bond of any bank or trust company
used as a depository for the funds of the State Treasurer shall notify the
Governor and the State Treasurer of their or its desire to be relieved from
further liability as such surety, as provided in the preceding section of
this article, or when any new bond shall be given by any bank or trust
company, that may be'used as a depository for the funds of the State by the
State Treasurer, it shall be lawful for the State Treasurer to receive from
such bank or trust company, its bond, conditioned, as provided by law,
and, as surety collateral to the said bond, instead of the surety heretofore
provided by law, registered public stock of the United States or of the
State of Maryland or of Baltimore City or the bonds of any county or
municipal corporation of this state which shall be approved by the State
. Treasurer to the amount, in value, of the penalty of the bond, and said
amount shall be at all times maintained by said bank or trust company;
which stock must be registered in the name of said Treasurer, officially,
as held in trust under and pursuant to this section and the same shall be
held by said Treasurer in trust to secure the performance of the condi-
tions of the said bond. Any such bank or trust company that may heretofore
have given the bond, as heretofore provided by law, may at any time secure
tie cancellation of said bond and the substitution of a bond with such
securities as are hereinbefore provided for, and any such bank or trust
company may at any time, withdraw from the State Treasurer such col-
lateral securities with the bond to which the securities are attached and
file, in lieu thereof, such bonds as have heretofore been accepted by the
State Treasurer; provided that no substitution of a bond with collateral
or a bond with other securities for a bond with collateral shall be made
oftener than once in each twelve months.