1074 LAWS OF MARYLAND. [CH. 518

establish branches; provided, however, that no branch shall
hereafter be established by any trust company in the city,
town or village where said trust company is now located
and engaged in business, until said trust company conforms
to the requirements herein provided as to the minimum
amount of surplus and capital stock for a trust company
in said city, town or village.

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

Approved April 29, 1935.

CHAPTER 518.

AN ACT to repeal and re-enact with amendments Section
9B of Article 11 of the Annotated Code of Maryland
(1924 Edition and 1929 Supplement), title "Banks and
Trust Companies, " sub-title "Bank Commissioner, " as
said section was enacted by Chapter 529 of the Acts of
1933.

(Vetoed. )

CHAPTER 519.

AN ACT to repeal and re-enact with amendments Section
54-B of Article 11 of the Annotated Code of Maryland
(1924 Edition and 1929 Supplement), title "Banks and
Trust Companies, " sub-title "General Regulations, " as
said Section was enacted by Chapter 485 of the Acts of
1933, authorizing and empowering banking institutions
to issue, sell or hypothecate capital notes, debentures,
bonds or certificates of beneficial interest and preferred
stock, and fixing the terms and conditions thereof.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 54-B of Article 11 of the Annotated
Code of Maryland (1924 Edition and 1929 Supplement),
title "Banks and Trust Companies, " sub-title "General Reg-
ulations, " as said Section was enacted by Chapter 485 of
the Acts of 1933, be and it is hereby repealed and re-en-
acted with amendments to read as follows: