2800

LAWS OF MARYLAND

Ch. 807

(3) For a branch that is to be located outside
the municipal area of the principal banking office of the
State bank, the State bank shall have capital STOCK and
surplus that equal at least the sum of:

(i) The amount required by subsection (a)
of this section; and

(ii) The amount that would be required for
the separate incorporation of the branch.

(c) Unless otherwise provided by law, the UNIMPAIRED
capital [structure] AND SURPLUS of a State bank [includes]
INCLUDE its debt instruments issued under § 3-312 of this
title.

3-210.

(a) (1) Before the Bank Commissioner issues a
certificate to do business, the [authorized] REQUIRED
capital stock and the required surplus shall be paid in
full.

(2)  A trust company shall have [authorized]
REQUIRED capital stock that equals at least:

(i) $100,000, if it is in a municipal area
with not more than 25,000 inhabitants;

(ii) $150,000, if it is in a municipal
area with more than 25,000 and not more than 100,000
inhabitants;

(iii) $200,000, if it is in a municipal
area with more than 100,000 and not more than 250,000
inhabitants; and

(iv) $750,000, if it is in a municipal
area with more than 250,000 inhabitants.

(3)  A trust company shall have a surplus in an
amount that equals at least 20 percent of its [authorized]
REQUIRED capital stock.

(b) (1) Before a trust company establishes a branch,
the trust company shall have capital STOCK and surplus as
provided in this subsection.

(2)  For a branch that is to be located inside
the municipal area of the principal banking office of the
trust company, the trust company shall have capital STOCK
and surplus that equal at least the amounts required by
subsection (a) of this section.

(3)  For a branch that is to be located outside
the municipal area of the principal banking office of the