752                         LAWS OF MARYLAND.                  [CH. 294

the Bank Commissioner, or shall engage or be interested in the
sale of securities or in the negotiation of loans for others, to
or with any banking institution under penalty of forfeiture of
his office or employment.

SEC. 2. And be it further enacted, That Section 20 of
Article 11 of the Annotated Code of Public General Laws of
Maryland, Edition of 1924, entitled "Banks and^Trust Com-
panies, " sub-title "Banks, " be, and the same is hereby repealed
and re-enacted, with amendments, to read as follows:

20. Any number of persons, not less than five, citizens of
the United States and a majority of them citizens of this State,
may associate to establish a bank under this Article upon the
terms and conditions and subject to the liabilities prescribed
herein. The capital stock for any bank shall not be less than
twenty-five thousand dollars in towns or villages having less
than fifteen hundred inhabitants, and shall not be less than
thirty-five thousand dollars in towns, villages or cities having
more than fifteen hundred and less than thirty-five hundred^
inhabitants, and shall not be less than forty thousand dollars
in towns or cities having more than thirty-five hundred and
less than five thousand inhabitants, and shall not be less than
forty-five thousand dollars in any city having more than five
thousand and less than ten thousand inhabitants, and shall
not be less than sixty-five thousand dollars in any city having
. more than ten thousand inhabitants and less than fifty thousand
inhabitants; and shall not be less than one hundred thousand
dollars in any city having more than fifty thousand inhabitants
and less than one hundred and fifty thousand inhabitants, and
shall not be less than five hundred thousand dollars in any city
laving more than one hundred and fifty thousand inhabitants;
the number of inhabitants in each case to be ascertained or
determined by the last Federal or State enumeration; and no
bank shall start business until all of the capital stock provided
for in its charter shall have been paid for in full in money and
no payment shall be regarded as made by the delivery of any
note, security or property of any kind as a substitute for money.
Provided that this section shall not apply to any person, co-
partnership, incorporated bank, or other incorporated insti-
tutions doing a banking business, now engaged in the bank-
ing business in this State, except in such cases where said per-
son, co-partnership, incorporated banks or other incorporated