HARRY HUGHES, Governor

197

and present CA § 6-144(a), as to trust companies,
is deleted, subsection (b)(1) of this section is
derived from present CA § 6-144(b) and made
applicable to State banks as well; and present CA
§ 6-123(b)(1), as to State banks, is deleted.
See the last paragraph of revisor's note to §
3-202 of this title.

In subsection (a) of this section, the present
requirement that the meeting be held "at the
office of" the commercial bank is deleted. This
requirement is inconsistent with the phrase "at
the ... place that the bylaws provide" and, given
the large number of stockholders in many banks,
is impractical if not simply obsolete.

In subsection (b)(1) of this section, the
reference to the "principal banking office" is
added for clarity.

The terms "commercial bank" and "county" are
defined in § 1-101 of this article.

The term "State bank" is defined in § 3-101 of
this title.

3-311. OATH OF STOCKHOLDER BEFORE VOTING.

(A)   WHEN OATH REQUIRED.

ON DEMAND OF A STOCKHOLDER, A PERSON MAY NOT VOTE ANY
SHARE OF CAPITAL STOCK THAT, ON THE STOCK LEDGER. OF A
COMMERCIAL BANK, APPEARS TO HAVE BEEN TRANSFERRED WITHIN THE
PRECEDING YEAR, UNLESS THE PERSON TAKES AN OATH AS PROVIDED
IN THIS SECTION.

(B)   SUBSTANCE OF OATH.

THE CHALLENGED VOTER SHALL TAKE AN OATH, BEFORE THE
JUDGES OF ELECTION OR OTHER OFFICERS OF THE MEETING:

(1)   THAT THE VOTER IS THE TRUE OWNER OF THE
CAPITAL STOCK AND THAT, WITHOUT ANY UNDERSTANDING THAT THE
CAPITAL STOCK BE TRANSFERRED TO THE PARTY FROM WHOM IT WAS
RECEIVED, THE VOTER:

(I)   BOUGHT AND PAID OR SECURED PAYMENT FOR
IT WITH FULL CONSIDERATION; OR

(II)   RECEIVED IT BY INHERITANCE, BEQUEST,
SURVIVORSHIP, DISTRIBUTION, OR GIFT; OR

(2)   IF THE CHALLENGED VOTER IS VOTING FOR A
PRINCIPAL, BY PROXY OR POSER OF ATTORNEY:

(I) THAT THE VOTER BELIEVES THE PRINCIPAL
BOUGHT AND PAID OR SECURED PAYMENT FOR THE CAPITAL STOCK