ALBERT C. RITCHIE, GOVERNOR. 1005

incorporated banks or other incorporated institution doing
a banking business shall hereafter undertake to establish a
branch or branches outside of the city, town or village in
which they are now located. In such a case the foregoing
provisions relative to capital and surplus shall be complied
with, by adding to the capital and surplus of the parent
institution, the amount that would be required hereunder if
such branch or branches were separately incorporated.
And provided further, that in estimating such addition to
the capital and surplus of the parent institution, credit shall
be given for the amount that the existing capital and sur-
plus of such parent institution exceeds the amount thereof
required by law; and provided further, that no branch shall
hereafter be established by any bank, in the city, town or
village, where said bank is now located, until said bank
conforms to the requirements herein provided, as to the
minimum amount of capital stock for banks in said city,
town or village. For the purposes of this section the term
"bank" shall include savings institutions having a capital
stock.

SEC. 2. Be it enacted by the General Assembly of Mary-
land, That Section 42 of Article 11 of the Annotated Code
of Public General Laws of Maryland, Edition of 1924, en-
titled "Banks and Trust Companies, " sub-title "Trust Com-
panies, " as the said section was amended by Chapter 294
of the Acts of 1931, be, and the same is hereby repealed
and re-enacted, with amendments, so as to read as follows:

42. Eleven or more persons, citizens of the United
States, and a majority of them citizens of this State, may
form a corporation to be known as a trust company. Such
persons shall under their hands and seals acknowledge
articles of incorporation which shall specifically state:

FIRST: The name by which the corporation shall be
known which name shall be in no material respect similar
to the name of any other trust company in the same State,
county or city.

SECOND: The place where its business is to be trans-
acted.

THIRD: The amount of its capital stock and the num-
ber of shares of the par value of not less than ten dollars
each, into which same is to be divided.

FOURTH: The name, residence and postoffice address
of each member of the corporation.