BANKS AND TRUST COMPANIES 437

or in the manner above provided, or shall fail to give the certificate of
such publication to the Bank Commissioner as above provided, the ter-
mination of such responsibility may thereafter be accomplished as of the
date three months subsequent to the publication and certification in the
manner above specified; provided such bank or trust company is doing
business under the provisions of this Article upon such date. Until a notice
shall have been published and a certificate thereof has been furnished in
accordance herewith such responsibility shall continue hereafter as
heretofore.

In the event of the termination of the individual responsibility of the
holders of the outstanding stock of any bank or trust company as above
provided, such bank or trust company shall transfer to surplus at the close
of a fiscal period, either annually or semi-annually, not less than ten per
cent (10%) of its net earnings after providing for expenses, losses, in-
terest and taxes accruing or due from said bank or trust company, until
such surplus shall equal and thereafter continue to equal one hundred per
cent (100%) of its capital.

This section does not relieve stockholders of liability established prior to June 1, 1937.
Sterling v. Beecher, Daily Record, June 8, 1939.

An. Code, 1924, sec. 73. 1912, sec. 70. 1910, ch. 219, sec. 69 (p. 30).

99. The shares of stock of an incorporated bank or trust company shall
be deemed personal property, and shall be transferred on the books of the
corporation in such manner as the by-laws thereof may direct, and no trans-
fer of stock shall be valid while the corporation is under notice to make
good the impairment of its capital, as provided in this article, nor until such
impairment shall have been made good.

An. Code, 1924, sec. 74. 1912, sec. 71. 1910, ch. 219, sec. 70 (p. 30).

100. Whenever any deposit shall be made in any bank, savings institu-
tion or trust company, by and in the name of any minor or female being or
thereafter becoming a married woman, the same shall be held for the ex-
clusive right and benefit of such minor or female, and free from the con-
trol or lien of all persons whatsoever, except creditors, and shall be paid,
with any interest due thereon, to the person in whose name the deposit shall
have been made, and the receipt of such minor or female shall be a sufficient
release or discharge for such deposit to the bank.

An. Code, 1924, sec. 75. 1912, sec. 72. 1910, ch. 219, sec. 71 (p. 30).

101. Whenever any deposit shall be made by any person in trust for
any other, and no other or further notice of the existence and terms of a
legal and valid trust shall have been given to the bank, savings institution
or trust company, in the event of the death of the trustee, the same or any
part thereof and any interest due thereon may be paid to the person for
whom the said deposit was made.

As to fiduciary, see art. 37A.

As to deposits in name of fiduciary, and in name of principal and in fiduciary's per-
sonal account, see art. 37A, sec. 7, et seq.

An. Code, 1924, sec. 76. 1912, sec. 73. 1910, ch. 219, sec. 72 (p. 30).

102. When a deposit has been made or shall hereafter be made in any
bank, savings institution or trust company, in the names of two persons,
payable to either, or payable to either or the survivor, such deposit or any