MARVIN MANDEL, Governor

1781

EVERY DOTY OF A DIRECTOR, IF ELECTED.

(C) NAME OF TRUST COMPANY.

THE NAME OF THE TRUST COMPANY MAY NOT BE SIMILAR IN
ANY MATERIAL RESPECT TO THE NAME OF ANY OTHER TRUST
COMPANY IN THE STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second
sentence of Art. 11, §53 and the first clause
of §54.

In subsection (a) of this section, the
requirement that the incorporators 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)(2) of this section, the
phrase "municipal area and county" is
substituted for the indefinite word "place" to
conform with other provisions of this subtitle
in which the action required of the trust
company relates very specifically to its
location. The words "municipal area" and
"county" are defined in Title 1 of this
article. Also, see the similar requirements
for State banks in §6-113 of this subtitle.

The provision of present §53 which relates to
par value of a share of capital stock is
included in §6—141(a) of this subtitle.

The Commission notes that the provisions of
subsection (c) of this section are more
restrictive than the comparable provisions for
State banks, now §6—113(c) of this subtitle,
which prohibits use of a name similar in any
material respect to the name of any other bank
located in the same municipal area or county.

6-135. ARTICLES OF INCORPORATION - FILING FOR
EXAMINATION.

(A) INVESTIGATION AND DETERMINATION.

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