28 LAWS OF MARYLAND.

62. Whenever the reserves of any bank or trust company
shall fall below the amount required herein to be kept, such
bank or trust company shall not increase its loans or discounts,
otherwise than by discounting or purchasing bills of exchange
payable at sight on demand, and the Bank Commissioner shall
notify any bank or trust company whose reserves may be
below the amount herein required, to make good such reserves,
and in case the bank or trust company fails for thirty days
thereafter to make good such reserve, the Bank Commissioner
may notify the Governor, and he may direct the Attorney-
General to institute proceedings for the appointment of a re-
ceiver or to wind up the business of such bank or trust com-
pany.

63. The total liabilities of any person, coparthership or
corporation, to any bank or trust company for money
borrowed, after the passage of this Act, including in
the liabilities of the coparthership the liabilities of the
several members thereof, except special parthers, shall
at no time exceed 20 per cent, of the amount of capital and
surplus of such bank or trust company; but the discounting of
bills of exchange drawn in good faith against actually existing
values, and the discounting of commercial or business paper
actually owned by a person on negotiating the same, shall not
be considered as money borrowed, provided that by a two-thirds
vote of the directors the liabilities of any person, coparthership
or corporation may be increased to a total sum not exceeding
30 per cent, of the capital and surplus of such bank or trust
company upon approved security. Nothing in this section con-
tained shall ajpply to the holding by any bank or trust company
of negotiable coupon bonds of any corporation.

64. It shall not be lawful for any bank or trust company to
loan to any of its officers, directors, clerks or employees any
of the funds of the institution without a responsible endorser,
or sufficient collateral security, unless the same shall have been
authorized, both as to the amount and security, by a resolution
of the board of directors, to be recorded.

65. It shall be unlawful for any officer, clerk or agent of
any bank or trust company doing business under this Act to
certify any check, draft or order drawn upon the bank or trust
company unless the person, firm or corporation drawing such
check, draft or order has on deposit at the time an amount of
money equal to the amount specified in such check, draft or
order. Any check, draft or order so certified by the duly
authorized officer shall be a good and valid obligation against
such bank or trust company.