MARVIN MANDEL, Governor

3201

27.

There is created and established a Banking Board
which shall be a part of the Department of Licensing and
Regulation and shall consist of three members to be
appointed by the Governor, with the advice of the
Secretary of Licensing and Regulation. One member of the
Board shall be a representative of the Baltimore Clearing
House, one a representative of the Associated Mutual
Savings Banks of Baltimore and one a representative of
the Maryland State Bankers' Association. Each of these
organizations shall submit the names of three persons
qualified for the responsibility imposed upon them by
this subtitle and the Governor shall select one name from
each of the lists to serve on the Board.

One member of the Board shall be designated by the
Governor to serve until June 1, 1937, one member until
June 1, 1939, and one member until June 1, 1941, and
after these dates each member appointed shall serve for a
term of six years or until his successor has been
appointed and qualified. In case of vacancy in the Board
for any reason, the Governor, with the advice of the
Secretary of Licensing and Regulation, shall appoint a
member for the remainder of the unexpired term. The
members of the Banking Board shall receive no salary for
their services, but their expenses incurred in attending
meetings shall be paid, IN ACCORDANCE WITH THE STANDARD
TRAVEL REGULATIONS, out of the State treasury on
certificate of the Bank Commissioner and upon warrants of
the Comptroller, The Comptroller shall be a member of
the Board ex officio.

The Banking Board shall be subject to the call of
the Bank Commissioner, to confer and consult with the
Bank Commissioner in any matter concerning the business
of banking or banking institutions in the State of
Maryland upon which the Bank Commissioner requests their
advice and counsel. The Board's functions shall be
purely advisory, to assist the Bank Commissioner with
sound and impartial guidance as additional protection in
maintaining the business of banking and banking
institutions throughout the State in a manner as will
give the fullest possible protection to the interests of
depositors and stockholders in the banking institutions
of the State. The members of the Banking Board shall
take the oath and be bound by the provisions of § 22 of
this article as to all facts and information obtained by
them in the performance of their official duties, or in
connection with any confidential reports submitted to
them by the Bank Commissioner.

SECTION 2. AND BE IT FURTHER ENACTED, That Section