196

LAWS OF MARYLAND

Ch. 33

(A)       LEDGER REQUIRED; PRESUMPTIONS.

(1)       EACH COMMERCIAL BANK SHALL KEEP A STOCK
LEDGER, WHICH SHALL CONTAIN THE NAME AND ADDRESS OF EACH
STOCKHOLDER AND THE NUMBER OF SHARES OF STOCK THAT THE
STOCKHOLDER HOLDS.

(2)       IN ANY PROCEEDING, THE STOCK LEDGER IS
PRESUMPTIVE EVIDENCE OF THE FACTS STATED IN IT.

(B)       RIGHT OF INSPECTION; REFUSAL.

(1)       ANY STOCKHOLDER, DIRECTOR, OR OFFICER OF A
COMMERCIAL BANK MAY INSPECT THE STOCK LEDGER DURING USUAL
BUSINESS HOURS.

(2)       FAILURE TO SHOW THE STOCK LEDGER TO AN
INDIVIDUAL ON THAT INDIVIDUAL'S RIGHTFUL DEMAND SUBJECTS THE
OFFICER RESPONSIBLE FOR THE FAILURE TO A CIVIL PENALTY OF
$50, PAYABLE TO THE BANK COMMISSIONER.

REVISOR'S NOTE: This section is new language that
combines without substantive change the identical
provisions of CA §§ 6-122 and 6-143.

3-310. ANNUAL MEETING OF STOCKHOLDERS.

(A)       TIME AND PLACE.

THE ANNUAL MEETING OF THE STOCKHOLDERS OF A COMMERCIAL
BANK SHALL BE HELD AT THE TIME AND PLACE THAT THE BYLAWS
PROVIDE.

(B)       NOTICE OF MEETING.

(1)       IN ADDITION TO ANY OTHER REQUIRED NOTICE,
NOTICE OF THE ANNUAL MEETING SHALL BE PUBLISHED AT LEAST 10
DAYS BEFORE THE MEETING IN A NEWSPAPER PUBLISHED IN THE
COUNTY WHERE THE COMMERCIAL BANK HAS ITS PRINCIPAL BANKING
OFFICE.

(2)       THE BOARD OF DIRECTORS SEED NOT PUBLISH
NOTICE OF THE ANNUAL MEETING IF EVERY STOCKHOLDER ENTITLED
TO VOTE AT THE MEETING EXECUTES A WRITTEN WAIVER OF THE
NOTICE BEFORE THE DATE SET FOR THE PUBLICATION.

REVISOR'S NOTE: This section is new language that: (i)
combines various provisions of CA § 6—123, as to
State banks, and CA § 6-144, as to trust
companies; and (ii) revises these provisions to
establish a uniform standard for all commercial
banks.

Thus, subsections (a) and (b) (2) of this section
are derived from present CA § 6-123(a) and (b) (2)
and made applicable to trust companies as well;