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1935 Cumulative Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 378, Page 116   View pdf image (33K)
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116 ARTICLE 11.
6.

This section referred to in construing sec. 9. Public Indemnity Co. v. Page,
161 Md. 239.

Cited but not construed in State v. Page, 163 Md. 512; Ghingher v. Pearson,
165 Md. 294.

1935. ch. 514.

6A. The Bank Commissioner is authorized to accept in his discretion
in lien of any examination authorized by the laws of this state to be con-
ducted by his department of a banking institution the examination that
may have been made of same within a reasonable period by the Federal
Deposit Insurance Corporation provided a copy of said examination is
furnished to said Bank Commissioner. Said Bank Commissioner may,
also, in his discretion accept any report relative to the condition of a
banking institution which may have been obtained by said Corporation
within a reasonable period, in lieu of a report authorized by the laws of
this State to be required of such institution by his department, provided a
copy of such report is furnished to said Bank Commissioner.

Said Bank Commissioner may furnish to said Corporation, or to any
official or examiner thereof, a copy or copies of any or all examinations
made of any such banking institutions and of any or all reports made by
same and shall give to said Corporation or any official or examiner thereof
access to any and all information possessed by the office of said Bank
Commissioner with reference to the conditions or affairs of airy such
insured institution.

Nothing in this Section shall be construed to limit the duty of any
banking institution in this State, deposits in which are to any extent
insured under the provisions of Section 8 of the "Banking Act of 1933"
(Section 12B of the Federal Reserve Act, as amended) or of any amend-
ment of or substitution for the same, to comply with the provisions of
said Act, its amendments or substitutions, or the requirements of said
Corporation relative to examinations and reports, nor to limit the powers
of the Bank Commissioner with reference to examinations and reports
under existing laws.

7.

Cited but not construed in State v. Page, 163 Md. 512.

1933, ch. 529, sec. 8A.

8A. 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 institu-
tion shall notify the Bank Commissioner of such action: upon the posting
of such notice the Bank Commissioner shall forthwith take possession
of the property and business of said institution.


 

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1935 Cumulative Supplement to the Annotated Code of the Public General Laws of Maryland
Volume 378, Page 116   View pdf image (33K)
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