90 LAWS OF MARYLAND. [CH. 46

torney General, from time to time prescribe, the Bank
Commissioner may designate and appoint the directors,
members of the executive and other committees, officers
and employees of any banking institution as his agents,
and confer upon and confirm to them all the powers and
authority for the conduct of said business vested in or
possessed by said parties respectively at the time of the
passage of this Act or conferred upon the Banking Com-
missioner by the terms of this Act.

Such rules and regulations may in whole or in part be
general in their application to all banking institutions in
the State, or may be in part made applicable only to cer-
tain groups or classes of such banking institutions. The
Bank Commissioner may in lieu of such appointment of
such directors, committeemen and officers, or in addition
thereto, with the approval of the Governor and the Attor-
ney General, appoint a conservator or other agent to exer-
cise with respect to any banking institution such of the
powers conferred upon said Bank Commissioner hereunder
as he may in each instance prescribe; and said directors,
committeemen, officers, employees, conservator or other
agent shall have the power to continue the regular business
of the bank fully as above provided for.

All expenses incurred in the management of a particular
institution shall be paid out of the assets of such institu-
tion, and the Bank Commissioner is hereby authorized,
with the sole approval of the Governor, to incur such ex-
penses and employ such legal, clerical or other assistance
as may be necessary for the efficient administration of this
Act.

Upon taking the custody of any banking institution in
this State, the Bank Commissioner shall eliminate all un-
necessary expenses and reduce the salaries of any or all
officers and employees whenever, in his discretion, the
condition of the banking institution requires such action.

Said custody, control and management shall continue for
a period of one year from the passage of this Act, and for
an additional period of one year in the discretion of the
Bank Commissioner, with the approval of the Governor
and the Attorney General. At any time after the passage
of this Act, the Bank Commissioner, whenever he may
deem such action to be in the public interest, may with the
written approval of the Governor and the Attorney Gen-
eral, permit any banking institution by written declaration
filed with the Bank Commissioner, to exempt itself from
such custody, control, management and all other provisions
of this Act.