BANKS AND TRUST COMPANIES. 343

respectively, whether heretofore incorporated under any general or special
law of this State, or hereafter incorporated under this law; said consolida-
tion to be effected in the same manner as consolidations of corporations are
now provided for under the genera] laws of this State; but no such con-
solidation shall be made without the consent of the Bank Commissioner, and
not then to defeat or defraud any of the creditors of any such institution
in the collection of their debts against such institution, or either of them;
and a banking institution which is, in good faith, winding up its business
for the purpose of consolidating with some other banking institution, may
transfer its resources and liabilities to the banking institution with which it
is in process of consolidation.

As to the consolidation of other corporations, see art. 23, sec. 33, et seq.

An. Code, sec. 60. 1910, ch. 219, sec. 59 (p. 26).

60. Any bank or trust company organized or doing business under the
provisions of this Article may go into liquidation by a vote of its stock-
holders owning two-thirds of the capital stock. Whenever a vote is taken
to go into liquidation, it shall be the duty of the board of directors to cause
notice of this fact to be certified, under the seal of the bank or trust com-
pany, by its president and cashier or treasurer to the Bank Commissioner,
and publication thereof, notifying creditors to present their claims against
the bank or trust company for payment, shall be made once in each week
for eight consecutive weeks in a newspaper published in the city, village
or county in which the bank or trust company is located, and if no news-
paper is there published, then in the nearest county seat.
See art. 23, sec. 51, et seq.

An. Code, sec. 61. 1910, ch. 219, sec. 60 (p. 27). 1914, ch. 805, sec. 60.

61. Any banking institution doing business under this Article may,
by action of its board of directors, place its affairs and assets in the hands
and under the control of the Bank Commissioner, by posting a notice on
its front door, as follows: "This institution is in the hands of the Bank
Commissioner." Immediately upon posting such notice, the said institution
shall notify the Bank Commissioner of such action. The posting of such
notice or the taking possession of any banking institution by the Bank Com-
missioner shall be sufficient to place all its assets and property of whatever
nature in the possession of the Bank Commissioner, as receiver.

An. Code, sec. 62. 1910, ch. 219, sec. 61 (p. 27).

62. Every bank (other than a savings bank without capital stock) shall
keep on hand at all times a cash reserve of at least 5 per cent, of its deposits,
payable on demand, and an additional reserve of 10 per cent, of such
deposits, which last-mentioned reserve may be kept on deposit in such bank
or banks, or trust company or trust companies of the State of Maryland, or
elsewhere, of good standing, as the board of directors by a resolution may
direct. Every trust company shall keep on hand at all times a reserve of
at least 10 per cent, of its deposits payable on demand (not including
thereunder, however, any deposits made by the city of Baltimore and