1804

LAWS OF MARYLAND

[Ch. 311

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §49
and the first paragraph of §68.

The references in present §§49 and 68 to

"articles of incorporation, or association"

are deleted as unnecessary in light of the

definition of "charter" in Title 1 of this
article.

In subsection (c) of this section, the general
provision of present §68 for certification by
"the president and the cashier or treasurer"
is retained although the provisions of present
§49 omit the reference to the cashier.

6-156. INCREASES IN CAPITAL IN GENERAL.

UNLESS THE REQUIRED SURPLUS IS SUFFICIENT TO PERMIT
THE INCREASE, AN INCREASE IN THE CAPITAL OF A STATE BANK
OR TRUST COMPANY IS NOT VALID UNTIL THE AMOUNT OF THE
INCREASE IS SUBSCRIBED FOR AND PAID AS REQUIRED FOR
SUBSCRIPTION FOR ORIGINAL STOCK.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of the second paragraph of Art. 11,
§68.

The provisions of present §68 which relate to
charter amendments are included in §6—155 of
this subtitle.

The provisions of present §68 which relate to
stock dividends are retained in Art. 11 for
eventual allocation to the Business Regulation
Article.

6-157. OTHER PROVISIONS OF CODE APPLICABLE.

IN ADDITION TO THE PROVISIONS OF THIS SUBTITLE, EACH
BANKING INSTITUTION HAS THE POWERS UNDER AND IS SUBJECT
TO THE PROVISIONS OF ARTICLE 11 OF THE CODE.

REVISOR'S NOTE: This section is new language added
as a cross—reference to the provisions
retained in Art. 11 which will be allocated to
the Business Regulation Article. This section
is not intended to be exhaustive or imply that
other provisions of the law would not be also
applicable.

For the provisions enumerating the general