HARRY HUGHES, Governor

2441

(3) The rules and regulations may:

(i) Increase the demand deposit reserve to
an amount equal to not more than 30 percent of those
deposits;

(ii) Increase the time deposit reserve to
an amount equal to not more than 6 percent of those
deposits;

(iii) Decrease the demand deposit reserve
to an amount equal to not less than 15 percent of those
deposits;

(iv) Decrease the time deposit reserve to
an amount equal to not less than 3 percent of those
deposits; and

(v) Notwithstanding items (i) through (iv)
of this paragraph, increase or decrease the demand deposit
reserve or time deposit reserve to conform to the reserve
requirements that apply to a member bank of the Federal
Reserve System.

5-612.

(b) (1) The Bank Commissioner may approve or
disapprove the plan without a hearing.

(2)  If the Bank Commissioner is satisfied that
the proposed plan is in the best interests of the depositors
and creditors of the banking institution, the Bank
Commissioner shall:

(i) Approve the plan; and

(ii) Publish a notice of the approval in
the Maryland Register as provided in the State Documents
Law.

(3)  The provisions of §§ 3-209, [3-210,] 3-211,
and 3-301 of this article, to the extent that they require
the capital stock and surplus of a commercial bank to be
paid in full and in money, do not apply to the
reorganization and reopening of a banking institution or the
establishment of a new banking institution under this
section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.