172

LAWS OF MARYLAND

Ch. 33

(1)       THE NAME AND ADDRESS OF EACH INCORPORATOR;

(2)       A STATEMENT THAT EACH INCORPORATOR IS 18
YEARS OLD OR OLDER AND A CITIZEN OF THIS STATE AND THE
UNITED STATES;

(3)       A STATEMENT THAT THE INCORPORATORS ARE
ASSOCIATING TO FORM A STATE BANK OR A TRUST COMPANY UNDER
THIS SUBTITLE;

(4)       THE NAME OF THE STATE BANK OR TRUST COMPANY,
WHICH MAY NOT BE SIMILAR IN ANY MATERIAL RESPECT TO THE NAME
OF ANY OTHER BANK OR TRUST COMPANY IN THIS STATE;

(5)       THE MUNICIPAL AREA AND COUNTY WHERE THE
STATE BANK OR TRUST COMPANY IS TO BE LOCATED;

(6)       THE NUMBER OF DIRECTORS AND THE NAMES AND
RESIDENCE ADDRESSES OF THOSE WHO WILL SERVE AS DIRECTORS
UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFY; AND

(7)       AS TO ITS CAPITAL STOCKS

(X) THE TOTAL NUMBER OF SHARES THAT THE
STATE BANK OR TRUST COMPANY HAS AUTHORITY TO ISSUE;

(II) THE PAR VALUE OF THE SHARES, WHICH
MAY NOT BE LESS THAN $10 A SHARE; AND

(III) THE TOTAL PAR VALUE OF ALL SHARES.

(C) PERMISSIVE CONTENTS.

THE ARTICLES OF INCORPORATION MAY INCLUDE ANY PROVISION
THAT REQUIRES FOR ANY PURPOSE THE CONCURRENCE OF A GREATER
PROPORTION OF THE VOTES OF ALL CLASSES OR OF ANY CLASS OF
CAPITAL STOCK THAN THE PROPORTION REQUIRED BY THIS ARTICLE
FOR THAT PURPOSE.

REVISOR'S NOTE: This section is new language that: (i)
combines various provisions of CA §§ 6—113 and
6-120(b), as to State banks, and CA §§ 6-134 and
6-141(a), as to trust companies; and (ii) revises
these provisions to establish a modernized,
uniform standard for all commercial banks.

Subsection (b) (1) and (2) of this section is new
language added to adopt the similar requirements
of the Maryland General Corporation Law in CA §
2-104(a)(1) and to reflect the citizenship and
age requirements of § 3-201 of this subtitle.

Subsection (b)(3) of this section is derived from
CA § 6-113(b)(1), as to State banks, and made
applicable to trust companies as well. (Cf., CA
§ 2-104(a)(1) (ii).)