1782

LAWS OF MARYLAND

[Ch. 311

(1)    THE ARTICLES ARE FRAMED IN ACCORDANCE
WITH LAW;

(2)    THE CHARACTER, RESPONSIBILITY, AND
GENERAL FITNESS OF THE INCORPORATORS COMMAND CONFIDENCE
AND WARRANT BELIEF THAT THE BUSINESS OF THE PROPOSED
TRUST COMPANY WILL BE CONDUCTED HONESTLY AND EFFICIENTLY,
IN ACCORDANCE WITH THE INTENT OF THIS SUBTITLE; AND

(3)    ALLOWING THE PROPOSED TRUST COMPANY TO
ENGAGE IN BUSINESS:

(I)    WILL PROMOTE PUBLIC CONVENIENCE AND
ADVANTAGE; AND

(II)   IS EXPEDIENT AND DESIRABLE.

(B)   CHANGES IN ARTICLES.

AFTER HIS INVESTIGATION, THE COMMISSIONER MAY
REQUIRE ANY CHANGE IN THE ARTICLES OF INCORPORATION HE
CONSIDERS NECESSARY.

(C)   ENDORSEMENT AND RETURN OF ARTICLES.

(1)    WITHIN SIX MONTHS AFTER THE ARTICLES ARE
FILED FOR EXAMINATION, THE COMMISSIONER SHALL ENDORSE AND
DATE EACH COPY OF THE ARTICLES "APPROVED" OR "REFUSED"
OVER HIS OFFICIAL SIGNATURE.

(2)   IF HE REFUSES FORMATION OF THE TRUST
COMPANY, HE SHALL RETURN ONE ENDORSED COPY OF THE
ARTICLES TO THE INCORPORATORS.

(3) IF HE APPROVES FORMATION OF THE TRUST
COMPANY, HE SHALL:

(I)    RETURN TWO ENDORSED COPIES OF THE
ARTICLES TO THE INCORPORATORS; AND

(II)  RETAIN AND RECORD ONE ENDORSED COPY.

(D)   FILING FEES.

THE COMMISSIONER SHALL COLLECT THE FOLLOWING FEES
FOR DOCUMENTS FILED FOR EXAMINATION WITH HIM:

(1)   ARTICLES OF INCORPORATION—$1,500.

(2)       AMENDMENTS TO ARTICLES OF
INCORPORATION--$20; AND

(3)   NEW BRANCH APPLICATIONS—$500.