The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1920-06-25
PUBLIC GENERAL LAWS

peal and re-enact with amendments
Sections Il and IL of Article IL,
title Banks and Trust Cempanies.s
subtitle Trust Companies. so as
to provide for the establishment of
bran. hes by trllst companies: and to
repeal and re-enact with amendments
subsection of Section 46 of said
Article as said Subsection was
amended by Chapter 80 of the Acts
of the General Assembly of Mary
land of 1913 so as t0sconfer banking
powers upon trust companies.
SECTION /. Be 1T enacted By the Gem
eral Assem biz of HaryIdnd, That Sections
, and 7zof Article IL of the Annotated
Code of Maryland. title Bank and Trust
Companies, subtitle Bank Commissions
sE. as said sections were amended by
s'hapter 33 Of the Acts of the General As
senlbly of Mafylandsof 1913, be and the
same are hereby repealed and re-enacted
With amendments, so as TO read as fol-
lows:
2 The Bank COMMISSIONER may, with
the approval of the Governor, appoint,
and with his consent, remove "a, Deputy
Bank Commissioner, and not more than
eight clerks or examiners, at salaries
within the limits of the amounts appr0-
pEiated therefor in the Budget Bill, as the
public bnsineSsein his charge may require.
Whenever it becomes necessary for the
ilsttlJSE N@OAuttltSSAguCIs W tchC fC4d1 III a
failed banking institution. as receiver, as
provided in this Article, he may appoint
such additional clerks as he may deem
necessary for the purpose of such re-
eeivership . the salaries of such clerks to
be paid out of the funds of the failed
banking institution. The Deputy Bank
Commissioner and the Office clerks shah
give bond in such SUMS as the Governor
and the Bank Commissioner may de.
termine for the faithful performance Of
their respective duties, said bonds to be
approved by the Governor and the cost
to be charged as expense of the Office.
T. The Commissioner, Deputy Com
missioner, or an Examiner appointed by
the Commissioners shall at least twice in
each year, and whenever he considers il
expedient, visit each banking Institution
in this State, other than. National Banks.
Attsnch visits he shall in the presence of
one of the officers Of the institution, have
free access togthe vaults, books and papers.
and he shall inspect and aexamiDe the at
fairSy of the institution, to ascertain its
condition and see 1wheth it complies with
the provisions Of law. 8 dag5 So r
SEC 32s1 s.4nde or sit taHrtheE enacted,
That Sections Eleven ID of Article IL
of the Annotated Codelof Maryland, title
Banks and Trust accompanies, sub title
Bank CoiamiSs i0ner, { be jand the same
is hereby repealed and re-enacted with
amendments, so as to- read as follows: !,
II! Amy officer, director, trustee, agent!
clerk or aenployee, whoa wilfilly " and
knowingly violates any of the provisions
Of the law governing or regulating the ine
stitutiohs mentioned in this Article. shah
be deemed guilty of misdemeanor, and
If found guilty shall be fined not more
than one Thousand dollars or be impris-
oned for not more than three years. or
both.
SEC. 8. And be 1T farther enacted,
That Section is of Article II of the An
notated Code of Maryland, title Banks
and Trust Companies subtitle Bank
Commissioner be and the same is hereby
repealed and re-enacted with amendments,
50 as to read as follows = ~
IS 16. The examination of banking insti-
buttons by the Bank Commissioner shall
be naid for by such institutions at the
following rate for the semirannuals ex-
animation 4 "A charge of twenty i've dol
lars tS255. Coz for each lexamin4tieR shall
be- made ip all icasesst to- which sAallf be
added, after; first 9educting, ethRf SUD- a9t
twentEyfiye thousand dollars { SO 10esB0}
from the totals assets Of the institution
SO examined. two cents 4 Peg SspeE fheu1
sansl, ofssueh remaining total assets, up to
ten million dollars, one cent: lei per
Thousand from ten million dollars. up to
t&entFffive, milIien dollars of such, as.
sets, and one half cent 4ac( per thor
sand from ii twenty-five million dollars to
whatever amount of such assets the, siI-
stitution examined, may have. When II
becomes necessary ferg the Bank Conimis-
siQner to extend his examination beyond
the. principal Office or, building, be shall be
paid in addition therefore in each case
fees at the above rates, except in such
eases where further exam ma ton is made
In the same town or city. when he shall
be paid a per diem fee of not more than
S154G0: when such institutions require a
special or unusual examination by the
Bank commissioner, he may be paid u
per diem fee of not more than 5000; be
may also be paid fee of S5.tV where it
is necessary for him to count securities
beyond tie principal Office or building.
The Bank Commissioner stall collect the
amounts named from the Institution eS-
anlined and pay the same to the State
Treasurer. and he shall draw, on proper
orders, from the State Treasury, the
amounts necessary for the salaries and
other expenses of his Office.
SEC: 4. Ind be it further enacted
That Section 20 of Article Il of the sAn-
notated Code of Maryland, title Banks
and Trust Companies, subtitle Banks,
be and the same is hereby repealed and
re7enaeted with aIaehdments, so Is to read
as follows
20. Any number. of persons, not less
THAI nVP. GlL1ZenSg OF the ~ llLSu.i tGA1leS
and a majority Of them citizens of this
State, may associate to establish q bank
under this Article upon the terms and
conditions and, subject to. the liabilities
prescribed herein. The aggregate amount
J oftcapital stock for any bank shall not
be less than twenty-five. thousand dollars
In towns or Villages having less than
fifteen hundred Inhabitants, and shalI not
be less than thirty five thousand dollars
in towns villages or cities having more
than fifteen hundred and less than thirty
five hundred Inhabitants, and shall not
be less than forty thousand dollars in
towns or cities having more than thirty
FIVE hundred and less than FIVE thousand
inhabitants and shall not be less than
fortyltiye Thousand dollars in any city
having more than five thousand and less
than ten thousand inhabitants, and shall
not be less than sixty-fiye thousand dol
lars in any city having more than ten
thousand inhabitants and less than fifty
thousand inhabitants; and shall net be
less than one hundred Thousand dollars
in any city having more than fifty thou
sand Inhabitants and less than one
hundred and fifty thousand inha bitaists,
and shall not be Tess than two han-
dred thousand dollars in any city having
more than one hundred aud fifty thousand
inhabitants and may start business when
one-half of the capital provided for in this
section shall have been paid in full, and
the remaining half within one year
from the date Of its organization. Pro,