1780

LAWS OF MARYLAND

[Ch. 311

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §61.

The definition of "articles of association" is
deleted as unnecessary in light of the
definition of "charter" in Title 1 of this
article.

The reference to a trust company "incorporated
under any law or laws of this State" is
deleted as unnecessary in light of the
definition of "trust company" in §6—101(j) of
this subtitle.

6-133. FORMATION IN GENERAL.

FIVE OR MORE ADULT INDIVIDUALS, EACH OF WHOM IS A
CITIZEN OF THE STATE AND THE UNITED STATES, MAY ACT AS
INCORPORATORS TO FORM A TRUST COMPANY UNDER THE
PROVISIONS OF THIS SUBTITLE.

REVISOR'S NOTE: This subsection is new language
derived without substantive change from the
first sentence of Art. 11, §53.

The requirement that the incorporators be
adults is added to conform with the general
corporation law.

6-134. ARTICLES OF INCORPORATION - EXECUTION AND
CONTENTS.

(A)   EXECUTION.

THE INCORPORATORS SHALL SIGN AND ACKNOWLEDGE THREE
COPIES OF ARTICLES OF INCORPORATION.

(B)   CONTENTS.

THE ARTICLES OF INCORPORATION SHALL SPECIFY:

(1)   THE NAME OF THE TRUST COMPANY;

(2)   THE MUNICIPAL AREA AND COUNTY WHERE THE
TRUST COMPANY IS TO BE LOCATED;

(3)    THE AMOUNT OF ITS CAPITAL STOCK AND THE
NUMBER OF SHARES OF STOCK;

(4) THE NAME, ADDRESS, AND STATE OF RESIDENCE
OF EACH MEMBER OF THE TRUST COMPANY; AND

(5) THAT EACH MEMBER OF THE TRUST COMPANY
WILL ACCEPT EACH RESPONSIBILITY AND DISCHARGE FAITHFULLY