246                                              LAWS OF MARYLAND                                       Ch. 33

FIDUCIARY CAPACITY, WITHOUT ANY DEED, TRANSFER, OR OTHER
ACTION. THE SUCCESSOR MAY BE REMOVED OR REPLACED AS
FIDUCIARY IN THE SAME MANNER AND TO THE SAME EXTENT AS THE
CONSTITUENT BANK.

(D)   REFERENCES TO CONSTITUENT BANK; USE OF
CONSTITUENT'S NAME.

(1)   UNLESS THIS CONSTRUCTION WOULD BE
UNREASONABLE, ANY REFERENCE TO ANY CONSTITUENT BANK IN ANY
WRITING, WHETHER EXECUTED OR TAKING EFFECT BEFORE OR AFTER
THE CONSOLIDATION OR MERGER, SHALL BE INTERPRETED AS A
REFERENCE TO THE SUCCESSOR.

(2)   THE SUCCESSOR MAY USE THE NAME OF ANY
CONSTITUENT BANK IF IT CAN DO ANY ACT MORE CONVENIENTLY
UNDER THAT NAME.

(E)   NONCONFORMING ASSETS OR BUSINESS.

IF A CONSTITUENT BANK HAS ASSETS OR ENGAGES IN BUSINESS
ACTIVITIES THAT DO NOT CONFORM TO THE LAW GOVERNING THE
SUCCESSOR, THE BANK COMMISSIONER MAY ALLOW A REASONABLE TIME
FOR THE SUCCESSOR TO CONFORM TO THAT LAW.

(F)   VALUATION OF ASSETS.

UNLESS THE BANK COMMISSIONER APPROVES, THE SUCCESSOR
MAY NOT CARRY ON ITS BOOKS AN ASSET RECEIVED FROM A
CONSTITUENT BANK AT A HIGHER VALUE THAN THAT ON THE BOOKS OF
THE CONSTITUENT BANK AT THE TIME OF THE LAST EXAMINATION BY
A STATE OR NATIONAL BANK EXAMINER BEFORE THE EFFECTIVE DATE
OF THE CONSOLIDATION OR MERGER.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §§
109(5) and 112(b), the second sentence of Art.
11, § 114(a), and Art. 11, §§ 115 and 117.

Subsection (a) of this section is new language
added to indicate the limited applicability of
this section to a consolidation or merger. As to
the effect of a transfer of assets, see § 3-714
of this subtitle.

Subsection (b) of this section is revised to
conform to the Maryland General Corporation Law
in CA § 3-114(b), to the same effect.

In subsection (c)(2) of this section, the present
reference to an interest in "choses in action" is
deleted as unnecessary since such an interest
would be an interest in "property".

In subsection (c)(3) of this section, "any
fiduciary capacity" is substituted for the
present "trustee, executor, administrator,