HARRY HUGHES, Governor

185

(2) IF, AFTER EXAMINATION, THE BANK COMMISSIONER
HAS REASON TO BELIEVE THAT THE STOCKHOLDERS FORMED THE
COMMERCIAL BANK FOR ANY PURPOSE OTHER THAN LEGITIMATE
BUSINESS UNDER THIS ARTICLE, THE BANK COMMISSIONER, WITH THE
ADVICE AND CONSENT OF THE SECRETARY OF LICENSING AND
REGULATION, MAY WITHHOLD THE CERTIFICATE.

REVISOR'S NOTE: This section is new language that
combines each of the provisions of CA § 6—119(b)
through (d), as to State banks, and CA § 6-140(b)
through (d), as to trust companies, so as to
establish a uniform standard for all commercial
banks.

Thus, subsections (a)(1), (b)(1), (b)(3), (c) ,
and (d)(2) of this section are each derived from
present CA § 6—119 and made applicable to trust
companies as well. Conversely, subsection (d) (1)
of this section is derived from present CA §
6—140 and made applicable to State banks as well.
The balance of this section is derived from
identical provisions of both CA §§ 6-119 and
6-140. As to these changes, see the last
paragraph of revisor's note to § 3—202 of this
subtitle.

la the introductory clause of subsection (a) of
this section, the reference to "its authorized
capital stock and surplus..." is new language
added to state expressly what now is implicit.

In subsection (a) (2) of this section, the present
references to "subscribers" and shares
"subscribed to" are deleted as inconsistent with
§§ 3-209(a) and 3-210(a) of this subtitle and the
balance of this section, which require all
authorized stock to be paid for in full before
this list is submitted.

In subsections (b) (2) and (d) (1) of this section,
a reference to the required "surplus" is added to
reflect the provisions of §§ 3-209(a)(1) and
3-210 (a) (1) of this subtitle.

In subsection (c) of this section, the present
phrase "under his official signature and seal" is
deleted as unnecessary.

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

3-213. CHARTER AMENDMENTS.

(A) GENERAL RULE.

ANY COMMERCIAL BANK MAY AMEND ITS CHARTER, IN ANY
MANNER NOT INCONSISTENT WITH LAW, AS PROVIDED IN THIS