402 ARTICLE 11

of such objecting parties' interest on the basis of a judicial liquidation of
said institution.

The Court may in lieu of fixing the cash value of said objecting parties'
interest apportion to said objecting parties their distributive share in
the assets of the corporation. Assets divisible in kind shall in this event,
be so apportioned. With respect to assets indivisible in kind between all
the assenting and non-assenting parties the Court may apportion such assets
by allotting to the objecting parties shares of stock, securities or certificates
of interest issued by a corporation or Trustee reasonably fairly represent-
ing such non-assenting parties' interest in such indivisible assets. The
entire amount allotted to such non-assenting parties, however, shall be
delivered and paid to the Receiver for liquidation for the benefit of the
non-assenting parties.

In case within said period of thirty days less than 33 1/3 in interest of
the depositors and other unsecured creditors shall file such application,
the Court may pass an order approving the same and fixing the terms and
conditions upon which the receivership may be terminated.

The persons proposing said plan may, however, at any time within ten
days after the final decision in any such proceeding abandon said plan for
reorganization.

The provisions of Sections 29, 54 and 68 of this Article, insofar as
they may require that capital stock and surplus of a bank or trust com-
pany shall be paid for in full in money, shall not be applicable to the
reorganization and reopening of a closed bank or the establishing of a new
bank pursuant to the provisions of this section.

Plan of reorganization under this section approved. State v. Title Guarantee &
Trust Co., 168 Md. 376.

An. Code, 1924, sec. 9D. 1933, ch. 529, sec. 9D.

18. If in any banking institution there shall be deposits of public
money belonging to any county or municipal corporation or other political
subdivision thereof, it shall be lawful for the treasurer or collector of any
county, municipal corporation or other political sub-division thereof, by
and with the consent of the governing body of any such county or municipal
corporation or other political sub-division to which any such deposit may
belong, to join with the other depositors of such banking institution in a
plan for the reopening or reorganization thereof or the establishment
of a new bank as hereinbefore provided, and for such purpose such respec-
tive treasurer or collector may bind said county, municipal corporation
or other political sub-division thereof, as the case may be, after being duly
authorized, so to do as above provided, to limit withdrawals from such
deposit over a period of time and in accordance with such plan as may
have been agreed to by the other depositors of said bank.

An. Code, 1924, sec. 10. 1912, sec. 11. 1910, ch. 219, sec. 11 (p. 9). 1920, ch. 268, sec. 11.

19. Any officer, director, trustee, agent, clerk or employee, who wil-
fully and knowingly violates any of the provisions of the law governing
or regulating the institutions mentioned in this Article, shall be deemed
guilty of a misdemeanor, and if found guilty shall be fined not more than
one thousand dollars or be imprisoned for not more than three years, or
both.

See notes to Sec. 12.