2032

LAWS OF MARYLAND

[Ch. 311

with the Bank Commissioner. He shall make such study and
investigation of [said] THE plan as he [may deem]
CONSIDERS necessary and [no] A hearing before him [shall
be] IS NOT required. If the Commissioner approves the
plan, he shall give notice thereof by publication [once a
week for at least two successive weeks in one or more
newspapers having a general circulation in every county
in which the institution, party to said reorganization,
maintains an office or principal place of business. The
word "county" for this purpose includes the City of
Baltimore] AS REQUIRED BY THE STATE DOCUMENTS LAW.

The banking institution or persons so filing [said]
THE plan [shall], within five days after [such] THE
approval by the Bank Commissioner, SHALL cause notice to
be mailed or sent to all depositors and other creditors
at their respective addresses shown on the books of the
corporation, notifying them that [said] THE plan has been
filed and is open to inspection at the office of the Bank
Commissioner, with a condensed summary of the important
provisions of the plan. Any failure to notify any
particular depositor or other party in interest [shall]
MAY not affect the reorganization. A certificate of the
president of [such] THE banking institution or other
proper persons filing [said] THE plan, to the effect that
[such] THE notice has been given, shall be prima facie
proof that this provision has been complied with.

Any depositor, creditor, or other person in interest
who [shall not have approved] DID NOT APPROVE the plan
may within [thirty] 30 days from the first publication of
the notice apply to the court [wherein] IN WHICH the
receivership is pending for the ascertainment of the fair
liquidating value of his claim, or other interest, which
liquidating value shall be made or paid either in money
or in kind. [Such court shall upon such] ON application,
THE COURT SHALL determine the present cash value of
[such] THE objecting parties' interest on the basis of a
judicial liquidation of [said] THE institution.

[The court may in] IN lieu of fixing the cash value
of [said ] THE objecting parties' interest, THE COURT MAY
apportion to [said] THEM [objecting parties'] their
distributive share in the assets of the corporation.
[Assets] IN THIS EVENT, ASSETS divisible in kind shall
[in this event,] be so apportioned. With respect to
assets indivisible in kind between all the assenting and
nonassenting parties, the court may apportion [such ] THE
assets by alloting to the objecting parties shares of
stock, securities, or certificates of interest issued by
a corporation or trustee reasonably fairly representing
[such] THE nonassenting parties' interest in [such] THE
indivisible assets. The entire amount allotted to [such]
THE nonassenting parties, however, shall re delivered and