BANKS. 27

60. Any banking institution doing business under this Act
may, by action of its board of directors, place its affairs and
assets in the hands and under the control of the Bank Com-
missioner, by posting a notice on its front door, as follows:
"This institution is in the hands of the Bank Commissioner."
Immediately upon posting such notice, the said institution
shall notify the Bank Commissioner of such action. The post-
ing of such notice or the taking possession of any banking in-
stitution by the Bank Commissioner shall be sufficient to place
all its assets and property of whatever nature in the possession
of the Bank Commissioner, and shall operate as a bar to any
attachment proceedings.

61. Every bank (other than a savings bank without capital
stock) shall keep on hand at all times a cash reserve of at least
5 per cent, of its deposits, payable on demand, and an addi-
tional reserve of 10 per cent, of such deposits, which last-men-
tioned reserve may be kept on deposit in such bank or banks, or
trust company or trust companies of the State of Maryland, or
elsewhere, of good standing, as the board of directors by resolu-
tion may direct. Every trust company shall keep on hand at all
times a reserve of at least 10 per cent, of its deposits payable on
demand (not including thereunder, however, any deposits made
by the city of Baltimore and secured by the counter deposits of
Baltimore city stock) ; which reserve shall be kept on deposit in
such bank or banks, or trust company, or trust companies, of
good standing, either in the State of Maryland or elsewhere, as
the board of directors or the executive committee thereof may
direct; and every trust company shall also keep on hand, as an
additional reserve, at least 5 per cent, of the amount of such
deposits, which additional reserve may be kept en deposit in
such bank or banks or trust company or trust companies as
the board of directors or executive committee thereof may
direct, or in the form of registered bonds or public stock of the
United States, or the State of Maryland, or of Baltimore city, or
of the bonds of any county or municipal corporation of this
State, which shall be approved by the Bank Commissioner; pro-
vided, however, that any securities which have been deposited by
any such trust company with the Treasurer of the State, in ac-
cordance with Sections 98 and 106 of Article 23 of the Code of
Public General Laws of the State of Maryland of 1904, may be
considered as the whole or a part, as the case may be, of said
last-mentioned required 5 per cent, reserve. Cash items shall
not be considered as a part of the reserve herein required to be
kept by either banks or trust companies, but cash actually on
hand held by a trust company shall be considered as a part of
the reserve herein first required to be kept by such trust com-
pany.