1010 LAWS OF MARYLAND. [CH. 529

an order of court, which fact shall operate as a bar to any
and all attachments, liens, executions, or distraints of any
kind.

9AA. The Board of Directors of any banking institu-
tion in the possession of the Bank Commissioner as re-
ceiver, may propose a plan of reorganization providing for
the voluntary surrender or exchange of outstanding capital
stock, in whole or in part, by existing stockholders, to the
institution, and for the resale of the shares so surrendered
or exchanged, or the sale of such other shares as may be
authorized. The plan may also provide for the voluntary
subscription or contribution by existing depositors and
creditors of the institution to a guarantee fund or other-
wise for the protection of depositors and creditors, and in
the case of Mutual Savings Banks the plan may provide
solely for such voluntary subscription or contribution. If
the Bank Commissioner shall approve said plan, and is sat-
isfied that such reorganization is for the best interests of
depositors and creditors he may permit said institution to
reopen. Provided, that the provisions of Sections 20, 42
and 54 of this Article, insofar as they may require that
capital stock and surplus of a bank or trust company shall
be paid for in full in money, shall not be applicable to the
reorganization and reopening of any banking institution
pursuant to the provisions of this section.

9B. The Bank Commissioner shall, within a reasonable
period after taking possession of any banking institution,
cause proper proceedings to be instituted in the name of
the State of Maryland against said institution in a court
of competent jurisdiction, for the purpose of having the
court assume jurisdiction over the property and business
of said institution, for liquidation. The Bank Com-
missioner may substitute the Deputy Bank Commis-
sioner, or a senior examiner as receiver of such insti-
tution, provided, however, that no such receiver shall
receive any additional compensation for his services as
receiver, but shall be allowed clerical, traveling and legal
expenses, subject to the Court's order, and shall furnish
such bond as the Court may require.

The receiver so appointed for any banking institution
shall have full power and authority to borrow money, either
for the purpose of paying any of the obligations of said
institution or for the purpose of paying dividends to the
depositors and creditors of such institution, or for the pur-