J. MILLARD TAWES, Governor                      337

are now located. In such a case the foregoing provisions relative to
capital and surplus shall be complied with, by adding to the capital
and surplus of the parent institution, the amount that would be re-
quired hereunder if such branch or branches were separately incor-
porated. And provided, further, that in estimating such addition to
the capital and surplus of the parent institution, credit shall be given
for the amount that the existing capital and surplus of such parent
institution exceeds the amount thereof required by law; and pro-
vided further, that no branch shall hereafter be established by any
bank, in the city, town or village, where said bank is now located,
until said bank conforms to the requirements herein provided, as to
the minimum amount of capital stock for banks in said city, town
or village. For the purposes of this section the term "bank" shall
include savings institutions having a capital stock .

30.

The articles of incorporation shall be executed in triplicate by the
persons joining therein before any officer authorized to take acknowl-
edgments, and then filed with the [Bank] Commissioner for exami-
nation. The [Bank] Commissioner shall thereupon ascertain from
the best sources of information at his command, and by such investi-
gation as he may deem necessary, whether the said articles are
framed in accordance 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 purposes
of this article, and whether the public convenience and advantage
will be promoted by allowing such proposed corporation to engage
or continue in business. After the [Bank] Commissioner shall have
satisfied himself by such investigation 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]
six (6) months after the date of the filing of such certificate 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 incor-
porators. One copy shall then be filed for record in the office of the
clerk of the circuit court in the county in which the bank is to be
located, or in the office of the clerk of the Superior Court of Balti-
more City, when to be located in said city, and one copy shall be filed
with the [Bank] Commissioner, who shall issue his certificate there-
fore, 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 have been filed for record as herein
directed. The fee for filing such articles of incorporation with the
[Bank] Commissioner shall be twenty dollars ($20.00), and for filing
amendments to the articles of incorporation ten dollars ($10.00), all
such fees to be collected by the [Bank] Commissioner.

34.

The affairs of the bank shall be managed by a board of not less
than five NOR MORE THAN THIRTY directors, a majority