PARRIS N. GLENDENING, Governor                             Ch. 326

(2) Pay to the [Bank] Commissioner an examination fee of $1,500.

(b)     The [ Bank] Commissioner shall investigate and determine if:

(1)     The articles are framed in accordance with law;

(2)     The character, responsibility, and general fitness of the incorporators
and directors named in the articles command confidence and warrant belief that the
business of the proposed commercial bank will be conducted honestly and efficiently, in
accordance with the intent of this article; and

(3)     Allowing the proposed commercial bank to engage in business:
(i) Will promote public convenience and advantage; and

(ii) Is expedient and desirable.

(c)     After the investigation, the [ Bank] Commissioner may require any change in
the articles of incorporation that the [ Bank] Commissioner considers necessary.

(d)     (1) Within 6 months after the articles are filed for examination, the [Bank]
Commissioner, after receiving the advice of the Banking Board, shall sign, date, and
endorse each copy of the articles as "approved" or "refused".

(2)     If formation of the commercial bank is refused, the [Bank]
Commissioner shall return one of the endorsed copies of the articles to the incorporators.

(3)     If formation of the commercial bank is approved, the [Bank]
Commissioner shall:

(i) Return one of the endorsed copies of the articles to the
incorporators; and

(ii) Keep and record one of the endorsed copies.

3-204.

(a)     If the [Bank] Commissioner approves the articles of incorporation, the
incorporators shall file for record one of the endorsed copies of the articles with the State
Department of Assessments and Taxation.

(b)     Articles of incorporation that are filed for record are not effective unless the
[ Bank] Commissioner has endorsed the articles as approved.

3-208.

A commercial bank may not do business until it receives from the [Bank]
Commissioner a certificate of authority to do business.

3-209.

(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 commercial bank shall have required capital stock that equals at least:

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