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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 318   View pdf image (33K)
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318 ARTICLE 11.

ARTICLE 11.

BANKS AND TRUST COMPANIES.

Bank Commissioner.

1. Appointment, term, bond, office, salary
and removal of commissioner.
2. Deputy commissioner and clerks.
Bonds.
3. Seal.
4. No interested party shall examine in-
stitution.
5. Deputy to act in case of vacancy.
6. Examination of banking institutions.
7. Commissioner or deputy may examine
officers and other witnesses.
8. Impairment of capital; failure to make
good deficiency; resumption of
business.
9. Commissioner may take possession if
business being, improperly con-
ducted; notice thereof; court pro-
ceedings; compensation of commis-
sioner; bond; resumption of busi-
ness.
10. Penalty for willful violation.
11. Report of institutions violating the
law; court proceedings against.
12. Examination by commissioner upon
request.
13. Irregularities or bad management dis-
closed by statement; failure to fur-
nish proper statement.
14. Information secret — penalty; excep-
tions. Information to federal re-
serve bank.
15. Commissioner and subordinates not
to become indebted to banking in-
stitution; nor sell securities; nor
negotiate loans.
16. Examinations to be paid for by insti-
tutions; rate. Collection and dis-
position of proceeds.
17. Appropriation.
18. Certified copies.
19. Annual report to Governor.

Banks.

20. Establishment of bank and branch
banks. Capital.
21. Articles of incorporation.
22. Articles of incorporation; investiga-
tion of incorporators; approval or
rejection of articles; record; fees.
23. Powers of corporation.
24. Subscriptions to stock and direction of
affairs prior to election of directors.
25. Examination by commissioner before
business starts; certificate.
26. Directors. Officers. Notice of annual
meeting.
27. Reorganization of state bank as na-
tional bank.
28. Reorganization of national bank as
state bank.
29. Circulating notes or currency.
30. Savings department.

Savings Institutions.

31. Articles of association; investigation
of incorporators; approval or rejec-
tion of articles; record; fees; by-
laws ; directors.
32. No capital stock; proviso.
33. May receive and invest deposits.
No loans to officers, etc. Withdraw-
als.
34. Guarantee fund — no impairment by
dividends or interest.
35. Dividends, interest and guarantee
fund.
36. Reports to bank commissioner.
37. Publication of reports.
38. Statement of deposits inactive for
twenty years.
39. Penalty for failure to comply with
preceding section.

As to charters for banking purposes, see art. 3, sec. 39, of the Md. Constitution.
As to the taxation of banks, see art. 81, sec. 167; see also sec. 157, et seq.

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 318   View pdf image (33K)
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