MARVIN MANDEL, Governor

1747

interchangeably. Therefore, the terra
"articles of incorporation" is used to avoid a
possible inconsistency and to conform with the
provisions for formation of a State bank, in
§6—113 of this subtitle. Note that this
substitution is also consistent with the last
sentence of present §39(a), which provides
fees for filing the "articles of
incorporation" of a savings institution.

In subsection (a) of this section, the
requirement to acknowledge the articles
"before any officer authorized to take
acknowledgments," is deleted as unnecessary.
For the general provisions relating to
acknowledgments, see Title 1, Subtitle 3 of
this article.

In subsection (b)(4) and (6) of this section,
the requirement to specify the address is
added to conform with the comparable
provisions for trust companies. See
§6-134(b)(4) of this subtitle.

The provisions of present §39(a) which relate
to the requisite number of directors and their
oath of office are included in §6-127(a) and
(c) of this subtitle.

For an explanation of the use of the term
"savings institution," see the revisor's note
to §6-101(h) of this subtitle.

The term "municipal area" is defined in Title
1 of this article.

6-104. ARTICLES OF INCORPORATION - FILING FOR
EXAMINATION.

(A) INVESTIGATION AND DETERMINATION.

THE INCORPORATORS SHALL FILE FOR EXAMINATION KITH
THE COMMISSIONER THE THREE COPIES OF THE ARTICLES OF
INCORPORATION. THE COMMISSIONER SHALL INVESTIGATE AND
DETERMINE FROM THE BEST AVAILABLE SOURCES OF INFORMATION
IF:

WITH LAW;

(1) THE ARTICLES ARE FRAMED IN ACCORDANCE

(2) THE CHARACTER, RESPONSIBILITY, AND
GENERAL FITNESS OF THE INCORPORATORS COMMAND CONFIDENCE
AND WARRANT BELIEF THAT THE BUSINESS OF THE PROPOSED
SAVINGS INSTITUTION WILL BE CONDUCTED HONESTLY AND