2440

LAWS OF MARYLAND

Ch. 617

(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
trust company, the trust company 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 minimum capital stock and surplus
that would be required for formation of a State bank in the
municipal area of the proposed branch.

(c) Unless otherwise provided by law, the unimpaired
capital and surplus of a trust company include its debt
instruments issued under § 3-312 of this title.]

3-305.

(a)  A reduction of the outstanding capital stock of a
commercial bank:

(1)  Is not valid unless approved by the Bank
Commissioner; and

(2)  May not be made to an amount that is less
than that required in[:

(i) § 3-209(b) of this title, as to State
banks; or

(ii) § 3-210(b) of this title, as to trust
companies] § 3-209(B) OF THIS TITLE.

(b)  The Bank Commissioner shall base approval on a
finding that the assets of the commercial bank remaining
after the proposed reduction of its capital stock, will be
sufficient to pay all of the claims of existing creditors.

3-607.

(e) (1) If the Bank Commissioner, with the advice of
the Banking Board, determines that a change in the demand
deposit reserve or in the time deposit reserve requirements
is advisable to maintain sound banking practices or to
prevent injurious credit expansion or contraction, the Bank
Commissioner may change the requirements as provided in this
subsection.

(2) Subject to paragraph (3) of this subsection,
the Bank Commissioner may adopt rules or regulations to
change the requirements as to reserves for [State banks or
for trust companies] COMMERCIAL BANKS.