MARVIN MANDEL, Governor

1789

OUTSIDE THE MUNICIPAL AREA OF ITS MAIN OFFICE, IN WHICH
CASE FOR EACH BRANCH THE TRUST COMPANY SHALL INCREASE ITS
CURRENT CAPITAL AND SURPLUS BY AN AMOUNT EQUAL TO THE
AMOUNT SPECIFIED IN SUBPARAGRAPH (I), (II), (III), OF
(IV) OF THIS PARAGRAPH, LESS THE AMOUNT BY WHICH THE
CURRENT        CAPITAL AND SURPLUS EXCEEDS THAT OTHERWISE

REQUIRED BY SUBSECTION (A) OF THIS SECTION:

(I)        $25,000 PLUS A 20 PERCENT SURPLUS, IF THE
[[BANK]] BRANCH IS LOCATED IN A MUNICIPAL AREA WITH NOT
MORE THAN 15,000 INHABITANTS;

(II)        $75,000 PLUS A 20 PERCENT SURPLUS, IF THE
BRANCH IS LOCATED IN A MUNICIPAL AREA WITH MORE THAN
15,000 AND NOT MORE THAN 50,000 INHABITANTS;

(III)           $100,000 PLUS A 20 PERCENT SURPLUS, IF
THE BRANCH IS LOCATED IN A MUNICIPAL AREA WITH MORE THAN
50,000 AND NOT MORE THAN 150,000 INHABITANTS; OR

(IV)        $500,000 PLUS A 20 PERCENT SURPLUS IF THE
BRANCH IS LOCATED IN A MUNICIPAL AREA WITH MORE THAN
150,000 INHABITANTS.

(C) DEBT INSTRUMENTS.

UNLESS THE LAW PROVIDES OTHERWISE, THE CAPITAL
STRUCTURE OF A TRUST COMPANY INCLUDES ITS DEBT
INSTRUMENTS ISSUED UNDER §6-146 OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last two
paragraphs of Art. 11, §53, the last two
clauses of Art. 11, §61, and, as it relates to
trust companies, the last paragraph of Art.
11, §70.

In subsection (a)(ii) and (iii) of this
section, the phrase "not more than" is
substituted for "less than" to correct a gap
which occurs in a municipal area with a
population of exactly 100,000 or exactly
250,000 inhabitants.

In subsection (b) of this section, the phrase
"municipal area of its main office" is
substituted for the phrase "city, town, or
village in which it is now located," to avoid
confusion if the trust company has extant
branches and to conform with the requirements
for establishment of branches by a savings
institution. The term "municipal area" is
defined in Title 1 of this article.