410 ARTICLE 11

An. Code, 1924, sec. 27. 1912, see. 27. 1910, ch. 219, sec. 27 (p. 14). 1931, ch. 294, sec. 27.

36. Any bank organized under this article may reorganize under the
laws of the United States as a national bank. Coincident with the bank's
making application to the Comptroller of the Currency such bank shall
file with the Bank Commissioner a formal notice of its intention to con-
vert into a national banking association. As soon as such bank shall
have obtained the certificate from the Comptroller of the Currency, author-
izing it to commence business under the United States Banking Law, such
reorganized bank shall take and hold all of the assets, real and personal,
of such bank organized under this article, subject to all liabilities existing
against such bank organized under this article at the time of such reorgan-
ization, and shall immediately notify the Bank Commissioner of such
reorganization and transfer. Upon conversion into a national banking
association such bank shall file with the Bank Commissioner a copy of its
authorization as. a national banking association, certified to by the Comp-
troller of the Currency.

An. Code, 1924, sec. 28. 1912, sec. 28. 1910, ch. 219, sec. 28 (p. 14).

37. Any national bank authorized to dissolve, and which shall have
taken the necessary steps to effect dissolution, may reorganize under this
article, upon the consent in writing of the owners of two-thirds of the capi-
tal stock of such bank, and with the approval of the Bank Commissioner.
Such stockholders shall make, execute and acknowledge articles of organi-
zation as required by this article, and shall set forth the said written con-
sent of such stockholders. Upon the filing of said articles as provided by
this article, and upon the approval of the Bank Commissioner, such bank
shall be deemed to be reorganized under this article, and thereupon all
assets, real and personal, of such dissolved national bank shall be vested in
and be and become the property of such organized bank, subject to all
liabilities of such national bank not liquidated before such reorganization.

An. Code, 1924, sec. 29, 1912, sec. 29. 1910, ch. 219, sec. 29 (p. 14).

38. In the event that the Congress of the United States shall hereafter
remove the tax on bank circulation or provide for the establishment of
circulation of banks organized under State laws, any bank organized or
doing business under this article shall have the power to issue circulating
notes or currency in accordance with any such act of Congress or under
such regulations as the Bank Commissioner of this State shall prescribe.
The provisions of this section shall not be construed to permit any savings
institution or any loan and trust company, or any other than a corporation
doing a strictly banking business, to issue circulation notes.

An. Code, 1924, sec. 30. 1912, sec. 30. 1910, ch. 219, sec. 29A (p. 14).

39. Nothing in this article shall prevent State banks from conducting
a savings department.

Savings Institutions.

An. Code, 1924, sec. 31. 1912, sec. 31. 1910, ch. 219, sec. 30 (p. 15). 1918, ch. 33,.sec. 31.

40. An association for carrying on the business of savings banking may
be formed by any number of persons, not less than fifteen, citizens of the
United States, and a majority of them citizens of this State, who shall