846                              Laws of Maryland                       Ch. 402

for in full, the name and place of residence of each of its directors,
and whether such bank has complied with all the provisions of law
required to entitle it to engage in the business of banking. A certified
list of the bona fide stockholders or subscribers shall be furnished
the Bank Commissioner, showing the name, residence and actual
number of shares subscribed to and paid for. If, upon such examina-
tion, it appears that such bank is lawfully entitled to commence
business, the Bank Commissioners shall forthwith give to such bank
a certificate, under his hand and official seal, that such bank is
authorized to commence business. If the Bank Commissioner has
reason to believe that the stockholders have formed the same for
any other than the legitimate business contemplated by this article,
he may, with the advice and consent of the [Governor] Secretary
of Licensing and Regulation, withhold the certificate herein men-
tioned.

67.

Any bank or trust company, heretofore incorporated under any
general or special law of this State, and any bank or trust company
hereafter incorporated under this article, is authorized and em-
powered, notwithstanding the restrictions and limitations imposed
in this article, to consummate, negotiate, transact, or engage in
any additional banking activity or bank-related service, under
the same conditions, limitations, restrictions and safeguards as
are now or shall hereafter be applicable, or permitted under
federal law to any national banking association, provided, how-
ever, that this power shall only become available to the State banks
and trust companies of this State with the authorization by majority
vote of the Bank Commissioner, the three appointed members of
the Banking Board, and three persons, not employed by any banking
institution, to be appointed by the Governor, with the advice of the
Secretary of Licensing and Regulation, for a two-year term, one
of whom shall be an economist, one of whom shall be a certified public
accountant, and the third member shall be a member of the general
public. Such authorization shall be given only if it is deemed rea-
sonably required to preserve and protect the welfare of such institu-
tions, the general economy of this State, and will not be detrimental
to the public interest and the stability of the institutions.

90.

Whenever the reserves of any bank or trust company shall fall
below the amount required herein to be kept, such bank or trust
company shall not increase its loans or discounts, otherwise than by
discounting or purchasing bills of exchange payable at sight on de-
mand, and the Bank Commissioner shall notify any bank or trust
company whose reserves may be below the amount herein required,
to make good such reserves, and in case the bank or trust company
fails for thirty days thereafter to make good such reserve, the Bank
Commissioner may notify the [Governor] Secretary of Licensing
and Regulation, and he may [direct] request that the Attorney
General [to] institute proceedings for the appointment of a re-
ceiver or to wind up the business of such bank or trust company.

219.

(b) For the purpose of discovering violations of this subtitle or
of securing information lawfully required hereunder, the Commis-