until such institution shall resume business or its affairs be finally liquidated as herein provided.

1910, ch. 219, sec. 10. 1912, ch. 194. sec. 10. 1914, ch. 805, sec. 10. 10. Whenever it shall appear to the Bank Commissioner, upon examination, that any institution to which this Act is applicable, is conducting its business in an unsafe, or unauthorized manner, or if any such institution shall refuse to submit its books, papers and concerns to the examination of the Bank Commissioner, or if any such institution shall neglect or refuse to observe an order of the Bank Commissioner as specified in Section 9 of this Act, the Bank Commissioner may, with the written consent of the Governor and Attorney-General, obtained prior thereto, forthwith take possession of the property and business of such institution and retain possession until such institution shall resume business or its affairs be finally liquidated as herein provided. On taking possession of the property and business of any such institution the Bank Commissioner shall forthwith give notice of such fact to any and all banks, trust companies, association, and individuals holding or in possession of any assets of such institution, and shall also cause such notice to be given by advertisement in such newspapers as he may direct, and also to cause a notice to be posted on the front door of such institution as follows: "This institution is in charge of the Bank Commissioner." Immediately upon posting said last mentioned notice by the Bank Commissioner, the property, assets and business of such institution shall be considered to be in the possession of the Bank Commissioner, which fact shall operate as a bar to any and all attachments, liens, executions or distraints of any kind, and shall also operate to place the assets of said institution in the hands of said Bank Commissioner, as receiver, the same as if he had been appointed by an order of Court. Such institution may, with the consent of the Bank Commissioner, or with the consent of the Court, resume business upon such conditions as the Bank Commissioner may approve. Immediately upon taking possession of the property and business of said institution the Bank Commissioner shall forthwith cause proper proceedings to be instituted in the name of the State of Maryland

versus said institution, in a Court of competent jurisdiction, for the purpose of having the Court assume jurisdiction over its property and business for final liquidation. The said Bank Commissioner shall receive no additional compensation for his service as receiver, but shall be allowed clerical, traveling and legal expenses, subject to the Court's order. He shall furnish such bond as the Court may require.

1910, ch. 219, sec. 11.

11. Any officer, manager, trustee, agent, clerk or employee, who wilfully and knowingly violates any of the provisions of the law governing or regulating the institutions mentioned in this Article, shall be deemed guilty of a misdemeanor, and if found guilty shall be fined not more than one thousand dollars or be imprisoned for not more than three years, or both.

1914, ch. 805, sec. 11-A.

11-A. If, in the opinion of the Bank Commissioner, any banking institution, and any of the officers, managers and trustees of any banking institution, have violated any of the provisions of this or any law governing the same, he shall forthwith report such violation to the Governor of the State, who may direct the Attorney-General to institute a proper proceeding for the prosecution for such violation.

1910, ch. 219, sec. 12.

12. The Bank Commissioner shall examine, or cause to be examined, any institution named in this Article, when requested by the board of directors of such institution.

1910, ch. 219, sec. 13.

13. The Bank Commissioner shall examine each statement received, as provided to be made in this Article by the banking institutions, and when, in his judgment, any irregularities or bad management are disclosed therein, or if such statement is not furnished within the time limit required, or if furnished, does not in all respects conform to the requirements set forth in this Article, he shall examine into the condition and verify the report of any such institution.

1910, ch. 219, sec. 14. 1914, ch. 805, sec. 14.

14. The Bank Commissioner, his deputy, attorney and every clerk or examiner in his department shall be bound by oath to keep secret all the facts and information obtained in the course of such examination, except so far as the public duty of such officer requires him to report upon or take special action regarding the affairs of any banking institution, and except when called as a witness in any criminal proceeding or trial in a Court of justice. If any Bank Commissioner, deputy, attorney, clerk or examiner in such department shall disclose the name of any debtor of any banking institution, or anything relative to the private accounts or transactions of such institution, or shall disclose any fact discovered in the course of his examination, except as herein provided, he shall be subject, on conviction thereof, to forfeiture of his office, and to the payment of not more than one thousand dollars or imprisonment not more than two years, or both.

1910, h. 219, sec. 15.

15. Neither the Bank Commissioner, Deputy Bank Commissioner nor any of the clerks in the employ of the Bank Commissioner's office, shall become indebted to any banking institution, or shall engage or be interested in the sale of securities or in the negotiation of loans for others, to or with any banking institution under penalty of forfeiture of his office or employment.

1910, ch. 219, sec. 16. 1912, ch. 194, sec. 16. 1914, ch. 805, sec. 16. 16. The examination of banking institutions by the Bank Commissioner shall be paid for by such institutions at the following rate for the annual examination: When the aggregate assets of the institution are fifty thousand dollars, or less, twenty dollars. When more than fifty thousand dollars, but less than one hundred and fifty thousand dollars, thirty dollars. When more than one hundred and fifty thousand dollars, but less than two hundred and fifty thousand dollars, forty dollars. When more than two hundred and fifty thousand, but less than five hundred thousand dollars, fifty dollars. When more than five hundred thousand, but less than one million, sixty dollars. When more than one million, but

less than three million, seventy-five dollars. When more than three million, but less than six million, one hundred dollars. When more than six million, but less than ten million, one hundred and fifty dollars. When more than ten million, but less than fifteen million, two hundred dollars. When more than fifteen million, but less than twenty-five million, two hundred and fifty dollars. When more than twenty-five million, but less than forty million, three hundred dollars. When more than forty million, four hundred dollars. When it becomes necessary for the Bank Commissioner to extend his examination beyond the principal office or building, he shall be paid in addition therefor in each case fees at the above rates, except in such cases where further examination is made in the same town or city, when he shall be paid a per diem fee of not more than $15.00; when such institutions require a special or unusual examination by the Bank Commissioner, he shall be paid a per diem fee of not more than $20.00; he shall also be paid a fee of $5.00 where it is necessary for him to count securities beyond the principal office or building. The Bank Commissioner shall collect the amounts named from the institution examined 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.

1910, ch. 219, sec. 17. 1914, ch. 805, sec. 17.

17. The amount of five thousand dollars per annum, or as much thereof as may be necessary, is hereby appropriated out of the State Treasury from any funds available, toward the salaries and expenses, including traveling expenses, of the Bank Commissioner's office, if the amounts collected from the several banking institutions should not be sufficient for the said salaries and expenses.

1910, ch. 219, sec. 18.

18. Whenever any certified copy or copies of any records or papers filed in the office of the Bank Commissioner shall be lawfully required to be furnished by him, the Bank Commissioner shall be entitled to a fee of ten cents for each folio for making such copy or copies, and fifty cents for each certificate.

All such fees are to be paid by the Bank Commissioner into the State Treasury.

1910, ch. 219, sec. 19.

19. The Bank Commissioner shall make an annual report to the Governor, covering the operations of his office, and suggesting such amendments to this Article as, in his judgment, may be desirable, on the tenth day of February in every year.

Banks.

1910, ch. 219, sec. 20.

20. Any number of persons, not less than five, citizens of the United States, and a majority of them citizens of this State, may associate to establish a bank under this Article, upon the terms and conditions and subject to the liabilities prescribed herein. The aggregate amount of capital stock for any bank shall not be less than ten thousand dollars in towns or villages having less than fifteen hundred inhabitants, and shall not be less than twenty 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 twenty-five thousand dollars in towns or cities having more than thirtyfive hundred and less than five thousand inhabitants, and shall not be less than thirty thousand dollars in any city having more than five thousand and less than ten thousand inhabitants, and shall not be less than fifty thousand dollars in any city having more than ten thousand inhabitants and less than fifty thousand inhabitants; and shall not be less than one hundred thousand dollars in any city having more than fifty thousand inhabitants and less than one hundred and fifty thousand inhabitants, and shall not be less than two hundred thousand dollars in any city having more than one hundred and 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 one-half within one year from the date of its organization. Provided that this section shall not apply to any incorporated banks now in existence; and provided further that this section shall not apply to any person of copartnership now engaged in the banking business in this State.