186

LAWS OF MARYLAND

Ch. 33

SECTION.

(B)   APPROVAL BY STOCKHOLDERS — IN GENERAL.

A PROPOSED AMENDMENT SHALL BE APPROVED AT A MEETING
CALLED FOR THAT PURPOSE, BY THE AFFIRMATIVE VOTE OF THE
HOLDERS OF TWO THIRDS OF THE CAPITAL STOCK OF THE COMMERCIAL
BANK.

(C)   SAME — AMENDMENT TO ISSUE PREFERRED STOCK.

IF THE PROPOSED AMENDMENT IS TO AUTHORIZE THE ISSUANCE
OF PREFERRED STOCK:

(1)   THE COMMERCIAL BANK SHALL GIVE NOTICE THAT A
PURPOSE OF THE MEETING WILL BE TO ACT ON THE PROPOSAL TO
EACH PERSON ENTITLED TO VOTE ON THE PROPOSAL BY REGISTERED
MAIL AT LEAST 5 DAYS BEFORE THE MEETING; AND

(2)   THE PROPOSED AMENDMENT SHALL BE APPROVED BY
THE AFFIRMATIVE VOTE OF THE HOLDERS OF A MAJORITY OF THE
CAPITAL STOCK OF THE COMMERCIAL BANK.

(D)   CERTIFICATION AND FILING.

AFTER AN AMENDMENT IS APPROVED BY THE STOCKHOLDERS:

(1)   THE PRESIDENT OF THE COMMERCIAL BANK AND
EITHER ITS CASHIER OR TREASURER SHALL CERTIFY THE AMENDMENT;
AND

(2)   THE AMENDMENT SHALL BE SIGNED, FILED WITH
THE BANK COMMISSIONER FOR EXAMINATION, AND, IF APPROVED BY
THE BANK COMMISSIONER, FILED FOR RECORD AS REQUIRED FOR
ARTICLES OF INCORPORATION.

(E)   FILING FEE.

ON FILING THE AMENDMENT FOR EXAMINATION, THE COMMERCIAL
BANK SHALL PAY TO THE BANK COMMISSIONER AN EXAMINATION FEE
OF $20.

REVISOR'S NOTE: Subsections (a), (b), and (d) of this
section presently appear as CA § 6—155, as that
section applies to commercial banks.

Subsection (c) of this section is new language
that combines the identical provisions of CA §§
6-121(b)(2)(ii) and (iii) and 6-142(b)(2)(ii) and
(iii), which relate to the issuance of preferred
stock under what is now § 3—302 of this title.

Subsection (e) of this section is new language
that combines the identical provisions of CA §§
6-114(d)(2) and 6-135(d)(2).

The remaining provisions of present CA §§