J. MILLARD TAWES, Governor                      347

[Bank] Commissioner shall also have the power to call for special
reports from any bank or trust company whenever, in his judgment,
the same is necessary to inform him fully of the condition of the bank
or trust company.

76.

Subject to a finding of solvency by the Commissioner of any bank-
ing institution desiring to go into voluntary liquidation, and upon the
granting of consent by the Commissioner, [ANY] a bank or trust
company organized or doing business under the provisions of this ar-
ticle may go into liquidation by a vote of its stockholders owning two-
thirds of the capital stock. Whenever a vote is taken to go into
liquidation, it shall be the duty of the board of directors to cause
notice of this fact to be certified, under the seal of the bank or trust
company, by its president and cashier or treasurer to the [Bank]
Commissioner, and publication thereof, notifying creditors to present
their claims against the bank or trust company for payment, shall
be made once in each week for eight consecutive weeks in a news-
paper published in the city, village or county in which the bank or
trust company is located, and if no newspaper is there published, then
in the nearest county seat.

77.

Every bank (other than a savings bank without capital stock) shall
keep on hand at all times a reserve of at least 15 per cent of its de-
posits, payable on demand; which reserve may be kept as cash on
hand, or on deposit in such bank or banks, trust company or trust
companies of the State of Maryland, or elsewhere, of good standing,
as the board of directors or executive committee by resolution may
direct. Every bank shall also keep on hand at all times a reserve of
at least three per cent (3%) of their time deposits; which reserve may
be kept as cash on hand, or on deposit in such bank or banks, or trust
company or trust companies of the State of Maryland, or elsewhere,
of good standing, as the board of directors or executive committee
by resolution may direct, or in the form of direct obligations of the
United States government, or the State of Maryland. Every trust
company shall keep on hand at all times a reserve of at least 10 per
cent of its deposits payable on demand (not including thereunder,
however, any deposits made by the City of Baltimore and secured by
the counter deposits of Baltimore City stock); which reserve shall be
kept on deposit in such bank or banks, or trust company or trust com-
panies of good standing, either in the State of Maryland or elsewhere,
as the board of directors or executive committee may direct; and
every trust company shall also keep on hand, as an additional reserve,
at least 5 per cent of the amount of such deposits, which additional
reserve may be kept on deposit in such bank or banks or trust com-
pany or trust companies as the board of directors or executive com-
mittee thereof may direct, or in the form of registered or coupon
bonds or public stock of the United States, or the State of Maryland,
or Baltimore City, or of the bonds of any county or municipal cor-
poration of this State, which shall be approved by the [Bank] Com-
missioner. Every trust company shall also keep on hand at all times
a reserve of at least three per cent (3%) of their time deposits; which
reserve may be kept as cash on hand, or on deposit in such bank or
banks, or trust company or trust companies of the State of Maryland,