186 LAWS OF MARYLAND [CH. 45

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1962.

Approved March 23, 1962.

CHAPTER 45

(Senate Bill 89)

AN ACT to repeal and re-enact, with amendments, Section S9 SEC-
TIONS 30, 39 AND 54 of Article 11, of the Annotated Code of
Maryland (1957 Edition), title "Banks and Trust Companies", sub-
title

[See page image for strike through]

SUB-TITLES "BANKS", "SAVINGS INSTI-
TUTIONS" AND "TRUST COMPANIES", RESPECTIVELY;
AUTHORIZING AND DIRECTING THE BANK COMMIS-
SIONER TO DETERMINE, WHEN ARTICLES OF INCORPO-
RATION OF BANKS AND TRUST COMPANIES AND
ARTICLES OF ASSOCIATION OF SAVINGS INSTITUTIONS
ARE SUBMITTED TO HIM ON EXAMINATION, WHETHER
THEY ARE FRAMED ACCORDING TO LAW, AND INCREAS-
ING THE FEES FOR FILING SUCH ARTICLES OF INCOR-
PORATION AND ASSOCIATION AND AMENDMENTS
THERETO.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Section 39 SECTIONS 30, 39 AND 54 of Article 11, of the
Annotated Code of Maryland (1957 Edition), title "Banks and Trust
Companies", sub title "Savings Institutions", be and it is SUB-
TITLES "BANKS", "SAVINGS INSTITUTIONS" AND "TRUST
COMPANIES", RESPECTIVELY, BE AND THEY ARE hereby
repealed and re-enacted, with amendments, to read as follows:

30. THE ARTICLES OF INCORPORATION SHALL BE EXE-
CUTED IN TRIPLICATE BY THE PERSONS JOINING THERE-
IN BEFORE ANY OFFICER AUTHORIZED TO TAKE AC-
KNOWLEDGMENTS, AND THEN FILED WITH THE BANK
COMMISSIONER FOR EXAMINATION. THE BANK COMMIS-
SIONER SHALL THEREUPON ASCERTAIN FROM THE BEST
SOURCES OF INFORMATION AT HIS COMMAND, AND BY
SUCH INVESTIGATION AS HE MAY DEEM NECESSARY,
WHETHER THE SAID ARTICLES ARE FRAMED IN ACCORD-
ANCE WITH EXISTING LAWS, WHETHER THE CHARACTER,
RESPONSIBILITY AND GENERAL FITNESS OF THE PERSON
OR PERSONS, NAMED IN SUCH CERTIFICATE, ARE SUCH
AS TO COMMAND CONFIDENCE AND WARRANT BELIEF
THAT THE BUSINESS OF THE PROPOSED CORPORATION
WILL BE HONESTLY AND EFFICIENTLY CONDUCTED IN

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.