HARRY HUGHES, Governor

183

(B)       BRANCHES.

(1)   BEFORE A TRUST COMPANY ESTABLISHES A BRANCH,
THE TRUST COMPANY SHALL HAVE CAPITAL AND SURPLUS AS PROVIDED
IN THIS SUBSECTION.

(2)   FOR A BRANCH THAT IS TO BE LOCATED INSIDE
THE MUNICIPAL AREA OF THE PRINCIPAL BANKING OFFICE OF THE
TRUST COMPANY, THE TRUST COMPANY SHALL HAVE CAPITAL AND
SURPLUS THAT EQUAL AT LEAST THE AMOUNTS REQUIRED BY
SUBSECTION (A) OF THIS SECTION.

(3)   FOR A BRANCH THAT IS TO BE LOCATED OUTSIDE
THE MUNICIPAL AREA OF THE PRINCIPAL BANKING OFFICE OF THE
TRUST COMPANY, THE TRUST COMPANY SHALL HAVE CAPITAL AND
SURPLUS THAT EQUAL AT LEAST THE SUM OF:

(I)   THE AMOUNT REQUIRED BY SUBSECTION (A)
OF THIS SECTION; AND

(II)   THE MINIMUM CAPITAL AND SURPLUS THAT
WOULD BE REQUIRED FOR FORMATION OF A STATE BANK IN THE SAME
MUNICIPAL AREA OF THE PROPOSED BRANCH.

(C)       DEBT INSTRUMENTS.

UNLESS OTHERWISE PROVIDED BY LAW, THE CAPITAL STRUCTURE
OF A TRUST COMPANY INCLUDES ITS DEBT INSTRUMENTS ISSUED
UNDER § 3-312 OF THIS TITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from CA §§ 6—138 and
6-139(a).

Subsection (a)(1) of this section is revised to
conform to similar provisions elsewhere in this
article.

In subsections (a) (2) and (b) of this section,
the words "at least" are added for clarity.

Subsection (b) (3) (ii) of this section is new
language substituted for the specific dollar
amounts set forth in present CA § 6-138(b) (2) (i)
through (iv), for brevity. This change also
conforms to the comparable provisions for savings
banks in § 4-208 of this article.

The terms "capital stock", "debt instrument",
"inhabitants", and "trust company" are defined in
§ 3-101 of this title.

The term "municipal area" is defined in § 1—101
of this article.

As to the term "authorized capital stock", see
revisor's note to § 3—101(b) of this title.