200

LAWS OF MARYLAND

Ch. 33

(2) BE SIGNED AND VERIFIED BY AN OFFICER OF THE
COMMERCIAL BANK.

REVISOR'S NOTE: This section presently appears as the
seventh sentence of Art. 11, § 73.

Although the rest of present Art. 11, § 73
applies to banking institutions generally — see
§ 5-206 of this article and its revisor's note —
this section cannot apply to savings banks, which
do not have capital stock and stockholders.
Therefore, it is placed in this subtitle and the
term "commercial bank", as defined in § 1—101 of
this article, is substituted for the present
reference to "every bank and trust company".

Subsection (a) (2) of this section is new language
added for clarity and consistency with similar
provisions appearing elsewhere is this article.
(See, e.g., § 5-201 of this article.) It is
derived from the present statement that this
report be made "at least" once a year.

In subsection (b)(1) of this section, the term
"residence addresses" is substituted for
"residences" for clarity. The term "address" is
defined in § 1—101 of this article.

In subsection (b) (2) of this section, the
requirement that the report be "signed and
verified" is substituted for the present
requirement that it be "verified by ... oath and
{sic} affirmation". See § 1—202 of this article.

The only other changes are in style.

As to civil penalties for failure to submit
required reports, see § 5—208 of this article.

The Commission to Revise the Annotated Code is
informed that problems arise because the
information required by this section is not made
confidential. The General Assembly may wish to
consider this area for further study.

3-314. APPROVAL OF BANK COMMISSIONER OF CERTAIN STOCK
TRANSACTIONS.

(A) DEFINITIONS.

(1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2) "BANK HOLDING COMPANY" HAS THE MEANING
STATED IN THE FEDERAL BANK HOLDING COMPANY ACT OF 1956.