BANKS AND TRUST COMPANIES. 117

An. Code, 1924, sec. 9. 1912, sec. 10. 1910. ch. 219, sec. 10 (p. 9). 1912, ch. 194.
1914, ch. 205, sec. 10. 1931. ch. 294.. sec. 9. 1933, ch. 529, sec. 9.

9. Whenever it shall appear to the Bank Commissioner, upon exami-
nation, that any banking institution doing business under this Article-
is conducting its business in an unsafe or unauthorized manner or in
conflict with this article, or if any such institution shall refuse to submit
its books, papers and concerns to the examination of the Bank Commis-
sioner, or if any such institution shall neglect or refuse to observe an
order of the Bank Commissioner as specified in Section 8 of this Article,
the Bank Commissioner may if he deems it advisable, with the written
consent of the Governor and Attorney General, obtained prior thereto,
forthwith take possession of the property and business of such institution
and shall cause a notice to be posted on the front door of the institution as
follows: "This institution is in the hands of the Bank Commissioner. "
This section referred to in construing sec. 72. See notes thereto. Robinson
v. Hospelhorn. Daily Record. June 27, 1935.

When assets of banking institution pass into possession of Bank Commis-
sioner as receiver under this section, the State's right of priority, as against
other creditors, is thereby extinguished, unless proceedings to enforce the right
have been previously taken. Public Indemnity Co. v. Page, 161 Md. 239.

Bank Commissioner, when he becomes receiver of a state bank, does not be-
come the successor of the corporate personality, since the corporation may be
permitted to resume business. Mylander v. Page. 162 Md. 239.
Cited but not construed in Ghingher v. Thomsen, 165 Md. 321.

1933, ch. 569. 1933 (Special Sess. ), ch. 107. 1935, ch. 496.

9A. All monies coming into the hands of the Bank Commissioner, the
Deputy Bank Commissioner or a Senior Examiner in their capacity as
receiver, as the case may be, for any banking institution (acting under
the provisions of Section 9 and under Section 61¹ of this Article) shall be
deposited by them to their credit as receiver of such banking institution,
in such bank, banks or trust companies as they may from time to time
select. For the safekeeping and forthcoming, when required, of said
deposits, the depository bank, banks or trust companies shall be required
to deposit with the Bank Commissioner, the Deputy Bank Commissioner
or a Senior Examiner, Federal Government securities and those issued
under the authority of the Federal Government, State of Maryland Bonds
or any county or municipality thereof and Baltimore City Stock, in lieu
of a surety bond, as security for said deposits. Such securities shall be
accepted at not more than par, or market value if selling at less than par,
and shall at all times be equal to the amount of funds deposited by the
Receiver in said bank, banks or trust companies.

1933, ch. 529. sec. 9A.

9AA. On taking possession of the property and business of any bank-
ing institution under the provisions of Sections 8A or 9 of this Article,
the Bank Commissioner shall forthwith give notice of such fact to any

¹ Sec. 61 repealed by ch. 529. 1933.