372

BANKS, NATIONAL AND STATE. [ART. 43.

Id s 2
Owners of
three-fourths of
capital stock to
decide whether
to change to a
national bank

2. Before any bank, savings institution, or savings bank of this
State shall avail itself of the provisions of this act, and of the
aforesaid act of Congress, its stockholders, by and with the written
advice and consent of the owners of three-fourths of the capital
stock of said bank, savings institution, or savings bank, or at a
special meeting called for the purpose, shall decide whether the
said bank, savings institution, or savings bank, shall or shall not
become an association for the purpose of banking under the laws of
the United States, and at said meeting every stockholder may cast
one vote for each share of stock held by him or her, and every
stockholder who shall be absent from said meeting may vote by
proxy, and every executor, administrator, guardian, or trustee hold-
ing stock in said bank, savings institution, or savings bank, may
vote in person or by proxy, without incurring any responsibility by
such vote, and the treasurer of Maryland is hereby authorized and
directed to represent and vote the stock held by the State in any
of the banks, savings institution, or savings bank of this State, and
if, on casting up the vote at the said meeting, it shall appear that
the owners of two-thirds of the capital stock of said bank, savings
institution, or savings bank, are in favor of converting the said
bank, savings institution, or savings hank into an association for
the purpose of banking under the laws of the United States, the
directors of said bank, savings institution, or savings bank, or a
majority of them, may execute the organization certificate, and
such other papers as shall be necessary, and may perform all acts
required by law for enabling the said bank, savings institution, or
savings bank to become such association

Id s 3

Notice to be
given by publi-
cation
40 Md 43

3. Whenever any bank, savings institution, or savings bank in
this State shall present to the clerk of the Court of Appeals of
Maryland, a certificate from the comptroller of the currency, setting
forth under his hand and official seal, that the bank, savings insti-
tution, or savings bank has become an association for the purpose
of banking under the laws of the United States, the said clerk
shall record such certificate, and shall send an authenticated copy
thereof to the governor of the State, who, on receiving the same,
shall give notice for at least three weeks in some newspaper printed
in the city or county where said bank, savings institution, or sav-
ings bank is located, that said bank, savings institution, or savings
bank has been converted into such association, and that its charter
as granted by the General Assembly of Maryland, has been sur-
rendered, and thereupon all its corporate powers shall cease; pro-

Provisos

vided, nevertheless, that said bank, savings institution, or savings
bank may continue to use its corporate name for the purpose of
prosecuting and defending suits instituted by or against it, and of
enabling it to close its affairs, but not for the purpose of continuing
under the laws of this State, the business for which it was estab-
lished, and no bank, savings institution, or savings bank thus con-
verted into a banking association under the laws of the United