HERBERT R. O'CONOR, GOVERNOR. 675

and detailed report as to such banking institution. The
Bank Commissioner may substitute the Deputy Bank Com-
missioner, or a senior examiner as receiver of such insti-
tution, provided, however, that no such receiver shall
receive any additional compensation for his services as
receiver, but shall be allowed clerical, traveling and legal
expenses, subject to the Court's order, and shall furnish
such bond as the Court may require.

The receiver so appointed for any banking institution
shall have full power and authority to borrow money,
either for the purpose of paying any of the obligations of
said institution or for the purpose of paying dividends to
the depositors and creditors of such institution, or for the
purpose of facilitating the reopening or reorganization of
said institution, and for such purpose the receiver may
pledge or mortgage any of the assets of such institution
with the approval of the Court. Before the receiver shall
make any distribution to creditors he shall prepare, state
and file an itemized account of all receipts, disbursements
and expenses in connection with the receivership and also
of the distribution then about to be made, in such form
as the court shall require, which account shall be accepted
by the Court subject to the usual exceptions, to the same
extent as if prepared, stated and filed by an auditor of the
court, it being intended hereby to avoid, in bank receiver-
ship cases, the additional expense and delay incident to the
stating of an auditor's account.

The Receiver shall be authorized and empowered, sub-
ject to the approval of the Court, to pay in full all creditors
whose aggregate claims do not exceed the sum of five dol-
lars ($5. 00).

SEC. 2. And be it further enacted, That this Act shall
take effect on June 1, 1939.

Approved May 3, 1939.

CHAPTER 305.

(Senate Bill 242)

AN ACT to repeal and re-enact, with amendments, Section
19A of Article 11 of the Annotated Code of Maryland
(1935 Supplement), title "Banks and Trust Companies",
sub-title "Banking Board".

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 19A of Article 11 of the Annotated