176

LAWS OF MARYLAND

Ch. 33

amendments and new branch applications, now
appear in § 3-213 of this subtitle and § 5—501 of
this article.

The term "commercial bank" is defined in § 1-101
of this article.

3-204. SAME — FILING FOR RECORD.

(A)        FILING FOR RECORD.

IF THE BANK COMMISSIONER APPROVES THE ARTICLES OF
INCORPORATION, THE INCORPORATORS SHALL FILE FOR RECORD ONE
OF THE ENDORSED COPIES OF THE ARTICLES WITH THE EACH OF THE
FOLLOWING:

(1) THE CLERK OF THE COURT FOR THE COUNTY WHERE
THE COMMERCIAL BANK IS TO BE LOCATED; AND

(2) THE STATE DEPARTMENT OF ASSESSMENTS AND

TAXATION.

(B)       ENDORSEMENT REQUIRED.

ARTICLES OF INCORPORATION THAT ARE FILES FOR RECORD ARE
NOT EFFECTIVE UNLESS THE BANK COMMISSIONER HAS ENDORSED THE
ARTICLES AS APPROVED.

REVISOR'S NOTE: Subsection (a) of this section is new
language that combines without substantive change
the identical provisions of CA §§ 6-115(a) and
6-136(a).

Subsection (b) of this section is new language
added to clarify the order in which articles are
filed for examination and for record. It is
patterned after CA § 6-504(b), as to articles of
incorporation for a domestic insurer.

3-205. CORPORATE STATUS; PERPETUAL EXISTENCE.

(A)       CORPORATE STATUS.

WHEN ARTICLES OF INCORPORATION ARE FILED FOR RECORD IN
ACCORDANCE WITH § 3-204 OF THIS SUBTITLE, THE COMMERCIAL
BANK BECOMES A CORPORATION.

REVISOR'S NOTE: This subsection is new language that
combines without substantive change the identical
provisions of CA §§ 6-115(b) and 6-136(b).

The term "commercial bank" is defined in § 1—101
of this article.

(B)        PERPETUAL EXISTENCE.

NOTWITHSTANDING ANY CHARTER PROVISION OR PROVISION OF