1072 LAWS OF MARYLAND. [CH. 517

member or stockholder of said Fund or Funds or Corpora-
tion or Corporations, and the powers hereby conferred may
be exercised from time to time as from time to time such
action may be approved by the vote of a majority of the
Board of Directors of such banking institution.

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

Approved April 29, 1935.

CHAPTER 517.

AN ACT to repeal and re-enact with amendments Section
42 of Article 11 of the Annotated Code of Maryland
(1924 Edition and 1929 Supplement), title "Banks and
Trust Companies, " sub-title "Trust Companies, " as said
section was amended by Chapter 528 of the Acts of 1933,
relating to the capital stock and surplus funds of trust
companies and the establishment of branches.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 42 of Article 11 of the Annotated
Code of Maryland (1924 Edition and 1929 Supplement),
title "Banks and Trust Companies, " sub-title "Trust Com-
panies, " as said section was amended by Chapter 528 of
the Acts of 1933, be and the same is hereby repealed and
re-enacted, with amendments, so as to read as follows:

42. Five or more persons, citizens of the United
States, and a majority of them citizens of this State,
may form a corporation to be known as a trust company.
Such persons shall under their hands and seals acknowledge
articles of incorporation which shall specifically state:

FIRST: The name by which the corporation shall be
known, which name shall be in no material respect similar
to the name of any other trust company in the same State,
county or city,

SECOND: The place where its business is to be
transacted.

THIRD: The amount of its capital stock and the num-
ber of shares of the par value of not less than ten dollars
each, into which same is to be divided.

FOURTH: The name, residence and postoffice address
of each member of the corporation.