760                         LAWS OF MARYLAND.                  [CH. 294

valid nor warrant the cancellation of stock certificates, or
diminish the personal, liability of stockholders, until such re-
duction has been approved by the Bank Commissioner. Such
approval must be based upon a finding by him that the remain-
ing assets of the bank or trust company, after such proposed
reduction of its capital stock, will be entirely sufficient for the
payment of the claims of existing creditors. The provisions
of this section shall be construed retrospectively as well as
prospectively.

56. Every bank and trust company shall make to the Bank
Commissioner not less than three reports during each calendar
year, at such times as the said Bank Commissioner shall re-
quire the same, according to the forms which he shall prescribe
and furnish. Such forms shall conform as nearly as prac-
ticable to that required of National Banks, including the
schedules. Such reports shall be signed and verified by the
oath or affirmation of either the president, vice-president,
cashier or treasurer of such bank or trust company before a
Notary Public or Justice of the Peace; if before a Justice of
the Peace, then such Justice shall be certified to by the Clerk
of the Circuit Court or of the Superior Court of Baltimore
City, as the case may be. Such report shall exhibit in detail
and under proper heads the resources and liabilities of the
bank or trust company at the close of the business of any past
day by the Bank Commissioner specified, and shall be trans-
mitted to said Bank Commissioner within ten days after the
receipt of the request from him. Such reports shall be pub-
lished in a newspaper of the city or village or county where
such bank or trust company is located, in such condensed form
as may be prescribed by the Bank Commissioner. Proof of
-said publication shall be furnished to the said Bank Commis-
sioner within fifteen days after the receipt of the aforesaid
call. At least once in each year every bank and trust company
shall report to the Bank Commissioner on call by him a list
of its stockholders, their residences and the amount of stock
held by each, which report shall be signed and verified by the
oath and affirmation of one of the officers of said bank or
trust company. The Bank Commissioner shall also have the
power to call for special reports from any bank or trust com-
pany whenever, in his judgment, the same is necessary to in-
form him fully of the condition of the bank or trust company.

59. Any banking institution of this State having capital
stock may consolidate with any other banking institution of