188 LAWS OF MARYLAND [CH. 45

cordance 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 busi-
ness of the proposed corporation will be honestly and efficiently con-
ducted in accordance with the intent and purpose of this article, and
whether the public convenience and advantage will be promoted by
allowing such proposed corporation to engage in business. After the
Bank Commissioner shall have satisfied himself by such investiga-
tion whether it is expedient, and desirable to permit such proposed
corporation to engage or continue in business, he shall have power
to require such changes in said certificate as he may deem necessary.
He shall within sixty days after the date of the filing of such certifi-
cate for examination, endorse upon each of the triplicates thereof,
over his official signature, the word "approved" or the word "refused"
with the date of such endorsement. In case of refusal he shall return
one of the triplicates so endorsed to the proposed incorporators. In
case of approval, the triplicates shall be returned to the proposed in-
corporators f, and shall then be submitted to one of the judges of
the judicial circuit in which the savings institution is to be located,
in order that he may determine whether the said articles are framed
in accordance with existing laws]. One copy shall then be filed for
record in the office of the clerk of the circuit court in the county in
which the institution is to be located, or in the office of the clerk of
the Superior Court of Baltimore City, when to be located in said city,
and one copy shall be filed with the Bank Commissioner, who shall
issue his certificate therefor, and one copy shall be filed with the
State Tax Commission. The corporation so formed shall have no legal
existence until all copies of the articles of association shall have been
filed for record as herein directed. The fee for filing such articles of
incorporation with the Bank Commissioner shall be ten ($10. 00)
TWENTY ($20. 00) dollars, and for filing amendments to the articles
of incorporation, five ($5. 00) TEN ($10. 00) dollars, all such fees to
be collected by the Bank Commissioner. Provision shall be made in
the bylaws of the association for annual meetings for the purpose
of electing directors and members, and the transaction of other busi-
ness. Every director shall take and subscribe an oath that he will
diligently and honestly perform the duties of such office, and will not
knowingly violate or permit a violation of any provision of this
article.

54. 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
ACCORDANCE WITH THE INTENT AND PURPOSE OF THIS
ARTICLE, AND WHETHER THE PUBLIC CONVENIENCE AND