HARRY W. NICE, GOVERNOR. 1039

amount, in value, of the penalty of the bond, and said
amount shall be at all times maintained by said bank or
trust company; which stock and/or bonds must be regis-
tered in the name of said Treasurer, officially, as held in
trust under and pursuant to this section and the same shall
be held by said Treasurer in trust to secure the perform-
ance of the conditions of the said bond; provided, however,
said Treasurer may, in his discretion, accept as surety col-
lateral any of said stock and/or bonds in unregistered form
upon such conditions as he may prescribe with respect
thereto. Any such bank or trust company that may hereto-
fore have given the bond, as heretofore provided by law,
may at any time secure the cancellation of said bond and
the substitution of a bond with such securities as are here-
inbefore provided for, and any such bank or trust com-
pany may at any time, withdraw from the State Treasurer
such collateral securities with the bond to which the securi-
ties are attached and file, in lieu thereof, such bonds as
have heretofore been accepted by the State Treasurer; pro-
vided that no substitution of the bond with collateral or a
bond with other securities for the bond with collateral shall
be made oftener than once in each twelve months.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1935.

Approved April 25, 1935.

CHAPTER 493.

AN ACT to repeal and re-enact, with amendments, Section
16 of Article 11 of the Annotated Code of Maryland (1924
Edition), title "Banks & Trust Companies, " sub-title
"Bank Commissioner, " increasing the charge for exami-
nation of banking institutions.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 16 of Article 11 of the Annotated
Code of Maryland (1924 Edition), title "Banks and Trust
Companies, " sub-title "Bank Commissioner, " be and it is
hereby repealed and re-enacted, with amendments, to read
as follows:

16. The examination of banking institutions by the
Bank Commissioner shall be paid for by such institutions at
the following rate for the semi-annual examination; A