174

LAWS OF MARYLAND

Ch. 33

see § 3-209(a) of this subtitle, as to State
banks, and § 3—210(a) of this subtitle, as to
trust companies.

As noted above, a number of changes have been
made in this section to establish modernized
uniform standards for both State banks and trust
companies. These changes — and similar changes
made and noted elsewhere in this title —
generally have been made only where the present
distinctions between State banks and trust
companies appear to be derived more from decades
of piecemeal legislation than from policy
considerations. In most instances — such as in
this section — the substantive effect is but a
technical one, in that the changes will apply
only to newly—formed commercial banks and do not
at all affect the rights of any existing bank.
In all instances, the Commission believes that
the changes have only a minimal substantive
effect and are warranted by the exigencies of
current practice.

3-203. SAME — FILING FOR EXAMINATION AND APPROVAL.

(A)   FILING WITH BANK COMMISSIONER; FEE.
THE INCORPORATORS SHALL:

(1)   FILE WITH THE BANK COMMISSIONER FOR
EXAMINATION THE TWO THREE COPIES OF THE ARTICLES OF
INCORPORATION; AND

(2)   PAY TO THE BANK COMMISSIONER AN EXAMINATION
FEE OF $1,500.

(B)   INVESTIGATION BY BANK COMMISSIONER.

THE BANK COMMISSIONER SHALL INVESTIGATE AND DETERMINE

IF:

LAW;

(1) THE ARTICLES ARE FRAMED IN ACCORDANCE WITH

(2)       THE CHARACTER, RESPONSIBILITY, AND GENERAL
FITNESS OF THE INCORPORATORS AND DIRECTORS NAMED IN THE
ARTICLES COMMAND CONFIDENCE AND WARRANT BELIEF THAT THE
BUSINESS OF THE PROPOSED COMMERCIAL BANK WILL BE CONDUCTED
HONESTLY AND EFFICIENTLY, IN ACCORDANCE WITH THE INTENT OF
THIS ARTICLE; AND

(3)       ALLOWING THE PROPOSED COMMERCIAL BANK TO
ENGAGE IN BUSINESS:

(I) WILL PROMOTE PUBLIC CONVENIENCE AND
ADVANTAGE; AND