244

LAWS OF MARYLAND

Ch. 33

ASSETS.

(A)       ISSUANCE OF CERTIFICATE.

WHEN THE DOCUMENTS REQUIRED BY § 3-709 OF THIS SUBTITLE
ARE FILED WITH THE BANK COMMISSIONER, THE BANK COMMISSIONER
SHALL ISSUE TO THE SUCCESSOR A CERTIFICATE OF CONSOLIDATION,
MERGER, OR TRANSFER OF ASSETS THAT SETS FORTH THE NAME OF
EACH CONSTITUENT BANK AND THE NAME OF THE SUCCESSOR.

(B)       CERTIFICATE AS EVIDENCE.

THIS CERTIFICATE IS CONCLUSIVE EVIDENCE OF THE

CONSOLIDATION, MERGER, OR TRANSFER OF ASSETS AND OF THE
CORRECTNESS OF ALL PROCEEDINGS RELATING TO IT.

REVISOR'S NOTE: This section presently appears as Art.
11, § 109(5) and the first sentence and the first
clause of the second sentence of Art. 11, §
114(b).

It has been revised to apply not only to a
consolidation or merger but, also, to a "transfer
of assets", as defined in § 3—701 of this
subtitle. See revisor's note to § 3-702 of this
subtitle.

In subsection (b) of this section, the present
reference to "all courts and places" is deleted
as unnecessary.

The only other changes are in style.

3-711. RECORDING OF DOCUMENTS.

(A)       AGREEMENT.

THE SUCCESSOR SHALL ACT PROMPTLY TO FILE AND RECORD THE
AGREEMENT IN THE SAME MANNER AS REQUIRED FOR ARTICLES OF
INCORPORATION.

(B)       CERTIFICATE.

THE CERTIFICATE OF CONSOLIDATION, MERGER,    OR TRANSFER

OF ASSETS MAY BE RECORDED IN ANY OFFICE WHERE DEEDS ARE

RECORDED TO EVIDENCE THE NEW NAME IN WHICH THE    PROPERTY OF
THE CONSTITUENT BANKS IS HELD.

REVISOR'S NOTE: This section presently appears as     the

third sentence of Art. 11, § 114(a) and   the

second clause of the second sentence of Art.      11,
§ 114(b).

Subsection (a) of this section is revised to
indicate that the responsibility of filing the
agreement is that of the successor. The word
"promptly" is added to help assure a timely