1022                             LAWS OF MARYLAND                        [CH. 628

(4) That in case said savings institution shall, after the effective
date of this Section, undertake to establish a branch in the same city,
town or village where its main office is now located, it shall have set
aside as a guarantee fund an amount equal at least to the minimum
amount required by Section 42 of this Article.

(c) Any savings institution having an existing branch or branches
upon the effective date of this Act, may continue the maintenance and
operation of such branch or branches without further approval from
the Bank Commissioner, subject, however, to all of the other terms
and conditions of this Article applicable to said savings institution.

(d)  This Act shall not be construed as implying that the provisions
of this Article have heretofore in any way prohibited the establish-
ment, maintenance or operation of a branch or branches in the city
or county in which any savings institution organized under the
general law or previously chartered by the General Assembly of
Maryland is located, or at any point within this State. NOTHING
IN THIS SECTION SHALL BE CONSTRUED OR APPLIED TO
PREVENT THE OPENING OR THE OPERATION OF ANY
SAVINGS INSTITUTION IN CALVERT COUNTY.

(e)  No savings institution shall diminish the minimum guarantee
fund and the addition thereto required by this Section to be set aside
except that it may from time to time, with the approval of the Bank
Commissioner, reduce said minimum guarantee fund by such amount
to be determined by the Bank Commissioner, as exceeds three per
centum (3%) of its deposits and may reduce the addition to said
guarantee fund made through the establishment of any branch, upon
the abandonment of such branch.

(F) ANY PERSON, FIRM OR CORPORATION AGGRIEVED
BY THE DECISION OR DETERMINATION OF THE BANK COM-
MISSIONER AS TO ANY APPLICATION TO ESTABLISH, MAIN-
TAIN AND OPERATE A BRANCH OR BRANCHES WITHIN THIS

[See page image for strike-through]

TO THE CIR-
CUIT COURT OF THE COUNTY OR TO THE SUPREME BENCH
OF BALTIMORE CITY, DEPENDING UPON THE JURISDICTION
IN WHICH THE APPLICANT SEEKS TO OPEN THE BRANCH
BANK. IN SUCH EVENT, ALL PAPERS IN THE CASE SHALL
BE FORWARDED TO THE COURT BY THE BANK COMMIS-
SIONER AND THE COURT SHALL HEAR THE CASE UPON THE
PAPERS AND RECORD.

SEC. 2. And be it further enacted, That all acts or parts of acts,
public general, public local or special, inconsistent with the terms
of this Act or otherwise dealing with the establishment, main-
tenance or operation of a branch or branches of any savings institu-
tion or institutions, be and the same are hereby repealed to the extent
of such inconsistency.

SEC. 3. And be it further enacted, That this Act shall take effect
on June 1, 1955.

Approved April 25, 1955.