1784

LAWS OF MARYLAND

[Ch. 311

for State banks, now §6—114 of this subtitle,

6-136. ARTICLES OF INCORPORATION - FILING FOR RECORD AND
CORPORATE STATUS.

(A)        FILING FOR RECORD.

IF THE COMMISSIONER APPROVES THE ARTICLES OF
INCORPORATION, THE INCORPORATORS SHALL FILE FOR RECORD
ONE ENDORSED COPY WITH EACH OF THE FOLLOWING:

(1)       THE CLERK OF THE COURT FOR THE COUNTY
WHERE THE TRUST COMPANY IS TO BE LOCATED; AND

(2)   THE DEPARTMENT.

(B)   CORPORATE STATUS.

WHEN ARTICLES OF INCORPORATION ARE FILED FOR RECORD
IN ACCORDANCE WITH SUBSECTION (A) OF THIS SECTION, THE
TRUST COMPANY BECOMES A BODY CORPORATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the seventh
sentence of Art. 11, §54 and the first clause
of §57 (a) .

In subsection (a)(1) of this section, the word
"county" is used as defined in Title 1 of this
article to include Baltimore City. The phrase
"clerk of the court" also is defined in Title
1 of this article.

In subsection (a) (2) of this section, the
word "Department" is substituted for "State
Tax Commission." Under the provisions of Art.
81, §247A, the Department of Assessments and
Taxation assumed the functions and duties of
the Commission.

In subsection (b) of this section, the term
"body corporate" is substituted for
"corporation" to conform with §§6—105(b) and
6—115(b) of this subtitle, which relate,
respectively, to the corporate status of
savings institutions and state banks.

The provisions of present §54 which relate to
recordation of the articles by the
Commissioner are contained in §6—135(c)(3) of
this subtitle. For an explanation of the
modification of the procedure, see the
revisor's note to that section.