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MARVIN MANDEL, Governor
2035
be promoted by the opening of [any such] THE branch for
which application [shall have been] IS made;
(2) That [said] THE savings institution has
complied with all the other terms and conditions
prescribed by this article applicable to [said
institution] IT; AND
(3) THAT THE SAVINGS INSTITUTION HAS COMPLIED WITH
THE GUARANTY POND PROVISIONS OF §6-106 OF THE
CORPORATIONS AND ASSOCIATIONS ARTICLE.
[ (3) That in case said savings institution shall,
after the effective date of this section, undertake to
establish a branch outside of the city, town or village
in which its main office is now located, it shall have
set aside as a guarantee fund an amount equal at least to
the minimum amount required by §42 of this article, and
shall have added to said guarantee fund an amount equal
to the minimum requirement under this article as to the
capital and surplus of State banks in the same locality
where said branch so applied for is to be established;
provided, however, that in estimating such addition to
said guarantee fund of said savings institution applying
for said branch, credit shall be given for the amount
that its existing guarantee fund exceeds the amount
thereof required by this article;
(4) That in case said savings institution shall,
after the effective date of this section, undertake to
establish a branch in the same city, town or village
where its main office is now located, it shall have set
aside as a guarantee fund an amount equal at least to the
minimum amount required by §42 of this article.]
REVISOR'S NOTE: This subsection is amended to delete
items (3) and (4) , which are now included in
§6—106(d) of the Corporations and Associations
Article, and to add a new item (3) as a
cross—reference.
67,
Any bank or trust company, heretofore incorporated
under any general LAW or special [law] ACT of this
State[, and any bank] or [trust company] hereafter
incorporated under [this article, is authorized and
empowered,] TITLE 6 OF THE CORPORATIONS AND ASSOCIATIONS
ARTICLE, notwithstanding the restrictions and limitations
imposed in this article OR THE CORPORATIONS AND
ASSOCIATIONS ARTICLE, [to] MAY consummate, negotiate,
transact, or engage in any additional banking activity or
bank—related service, under the same conditions,
limitations, restrictions, and safeguards as are now or
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