HARRY HUGHES, Governor

2439

(b)  (1) Before a [State] COMMERCIAL bank establishes a
branch, the [State] COMMERCIAL bank 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
[State] COMMERCIAL bank, the [State] COMMERCIAL bank 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
[State] COMMERCIAL bank, the [State] COMMERCIAL 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 and surplus of a [State] COMMERCIAL bank 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 required capital stock and
the required surplus shall be paid in full.

(2)  A trust company shall have 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 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.