BANKS AND TRUST COMPANIES. 345

An. Code, sec. 63. 1910, ch. 219, sec. 62 (p. 28).

66. Whenever the reserves of any bank or trust company shall fall
below the amount required herein to be kept, such bank or trust company
shall not increase its loans or discounts, otherwise than by discounting or
purchasing bills of exchange payable at sight on demand, and the Bank
Commissioner shall notify any bank or trust company whose reserves may
be below the amount herein required, to make good such reserves, and in
case the bank or trust company fails for thirty days thereafter to make
good such reserve, the Bank Commissioner may notify the Governor, and
he may direct the Attorney-General to institute proceedings for the ap-
pointment of a receiver or to wind up the business of such bank or trust
company.

An. Code, sec. 64. 1910, ch. 219, sec. 63 (p. 28).

67. The total liabilities of any person, copartnership or corporation,
to any bank or trust company for money borrowed, after April 8, 1910,
including in the liabilities of the copartnership the liabilities of the several
members thereof, except special partners, shall at no time exceed 20 per
cent, of the amount of capital and surplus of such bank or trust company;
but the discounting of bills of exchange drawn in good faith against
actually existing values, and the discounting of commercial or business
paper actually owned by a person on negotiating the same, shall not be con-
sidered as money borrowed, provided that by a two-thirds vote of the direc-
tors the liabilities of any person, copartnership or corporation may be
increased to a total sum not exceeding 30 per cent, of the capital and sur-
plus of such bank or trust company upon approved security. Nothing in
this section contained shall apply to the holding by any bank or trust com-
pany of negotiable coupon bonds of any corporation.

An. Code, sec. 65. 1910, ch. 219, sec. 64 (p. 28). 1912, ch. 194, sec. 64.

68. It shall not be lawful for any bank or trust company doing busi-
ness under the provisions of this Article to loan to any of its officers, direc-
tors, clerks or employees, any of the funds of said institution, unless the
same shall have been authorized by a resolution of the board of directors,
the same to be recorded, or unless said loan be secured by responsible in-
dorsement or sufficient collateral security (the provisions of this section
shall be subject, however, to the provisions of section 67 of this Article).

An. Code, sec. 66. 1910, ch. 219, sec. 65 (p. 28).

69. It shall be unlawful for any officer, clerk or agent of any bank or
trust company doing business under this article to certify any check, draft
or order drawn upon the bank or trust company unless the person, firm or
corporation drawing such check, draft or order has on deposit at the time
an amount of money equal to the amount specified in such check, draft or
order. Any check, draft or order so certified by the duly authorized officer
shall be a good and valid obligation against such bank or trust company.
See art. 13, sec. 203, et seq.