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female shall be a sufficient release or discharge for such deposit to the bank.

1910, ch. 219, sec. 71. 72. Whenever any deposit shall be made by any person in trust for any other, and no other or further notice of the existence and terms of legal and valid trust shall have been given to the bank, savings institution or trust company, in the event of the death of the trustee, the same or any part thereof and any interest due thereon may be paid to the person for whom the said deposit was made.

1910, ch. 219, sec. 72. 73. When a deposit has been made or shall hereafter be made in any bank, savings institution or trust company, in the names of two persons, payable to either, or payable to either or the survivor, such deposit or any part thereof, or any interest or dividend thereon, may be paid to either of said persons, whether the other be living or not; and the receipt or acquittance of th person so paid shall be a valid and sufficient release and discharge to the bank for any payment so made.

1910, ch. 219, sec. 73. 74. Legal process against any banking institution may be served upon such institution in the manner now provided by law for such service on other corporations organized under the laws of this State.

1912, art. 11, sec. 75. 1910, ch. 210. sec. 74. 1912, ch. 194, sec. 74.

75. No person, co-partnership or corporation not subject to the supervision and examinations of the Bank Commissioner, and not required to make reports to him by the provisions of this Act, shall make use of any sign at the place where such business is transacted, having thereon any artificial or corporate name or other words indicating that such place or office is the place or office of a banking institution as defined in this Article; nor shall such person or persons make use of or circulate any letter heads, bill heads, blank notes, blank receipts, certificates, circulars, or any written or printed, or partly written or printed paper whatever, having thereon any artificial or corporate name, or other word or words indicating that such

business is the business of a banking institution. Any person or persons violating any of the provisions of this section, either individually or as an interested party in any co-partnership or corporation, shall be guilty of a misdemeanor, and on conviction thereof shall be fined in a sum not more than one thousand dollars, or by imprisonment not more than one year, or by both fine and imprisonment; the provisions of this section shall only apply to all persons, copartnerships or corporations engaged in the business in incorporated towns or cities of the State, of at least ten thousand inhabitants.

1910, ch. 219, sec. 75. 76. At all meetings of the stockholders of a bank or trust company for elections and other purposes, no person shall be allowed to vote on any share or shares of stock at such meetings, either in person or by proxy, unless the said person shall, if required by a stockholder, make oath before the judges of election, or other officers of the meeting, that he or she, as the case may be is the lawful and bona fide owner of said stock, having purchased and paid, or secured payment for the same with a full consideration, or received the same by inheritance, bequest, marriage, distribution or gift, and without any understanding that the said stock is to be transferred to the party from whom it was received; or in case of voting by proxy or power of attorney, the person holding such proxy or power of attorney shall make oath or affirmation, if required by a stockholder, that he believed his principal, for whom he offers to vote, bought and paid for, or secured the payment for the said stock with a full consideration, or that the said principal, to the best of his knowledge and belief, is the real bona fide owner of said stock, having acquired the same, as the case may be, by inheriiance, bequest, marriage, distribution or gift; provided, however, that this provision shall apply only to such shares of stock in the corporations aforesaid as shall appear to have been transferred upon the books of the corporation within one year next preceding the meeting at which it is offered to vote upon, them; and provided further, that nothing in this Article shall prevent a stockholder whose shares of stock shall be in good faith pledged for a loan from voting his or its stock so long as the same has not been actually sold.

1910, ch. 219, sec. 76. 77. Any person who shall wilfully or maliciously instigate, make, circulate or transmit to another or others any statement, untrue in fact, derogatory to the financial condition or affecting the solvency or financial standing of any bank, savings institution or trust company doing business in this State, or who shall counsel, aid, procure or induce another to start, transmit or circulate any such statement or rumor, shall be guilty of a misdemeanor and, upon conviction thereof in any Court of competent jurisdiction, may be fined a sum not exceeding one thousand dollars, or be imprisoned for a period not exceeding three years.

1912, ch. 194, sec. 77. 78. Said Bank Commissioner may appoint any attorney to perform such duties as he may be required by said Bank Commissioner, and receive such compensation as may be approved by the Board of Public Works of the State.*

1910, ch. 219, sec. 2. 1912, ch. 194, sec. 2, p. 388. 79. All Acts and parts of Acts of which this Act is amendatory, and all Acts and parts of Acts inconsistent with the pro. visions of this Act are hereby repealed; and also all charters of institutions which are subject to the provisions of this Act heretofore granted by the General Assembly of Maryland, where the franchises shall not have been availed of to the extent of forming a complete organization and establishing an office by the first of January, 1914, are hereby repealed.




1908, ch. 101. 111. In all cases where real or personal property shall be come or shall have become vested in any educational or charitable corporation by deed, will, testament or codicil, subject to

* The Attorney-General shall represent the State Bank Commissioner, 1916, chapter 560.

conditions subsequent or to terms of gift which said corporation is required to agree to, and to a limitation over (upon breach of such condition or failure to observe said terms) to some other person or persons or corporation, then if, in the proceeding hereinafter provided for, or in any other suit or action, said condition or conditions shall be held to be too remote (under the rule against perpetuities) to be operative, or if it be held that there is no right of entry, on the breach of such condition or conditions, in the person or persons or corporation to which said property is limited over as aforesaid, or that said limitation over is too remote, and if in consequence thereof the corporation aforesaid, in which said property shall be vested, would be able but for this and the two following sections to hold said property and disregard the conditions or terms on which the gift, devise or bequest was made, in all such cases the Court or Courts of Equity having jurisdiction in the place where said property shall be located, or in the county or city in which the principal office or place of business of said educational or charitable corporation first mentioned in this section is located, shall have full power and authority, in its discretion, to enforce compliance by said corporation with said conditions or terms of gift, devise or bequest, so that it may not be in the power of said corporation to continue to hold said property without also complying with said condition or terms.

1908, ch. 101.

112. In any instance aforesaid, any relative of the testator, or of the grantor or donor, if such grantor or donor be deceased, in the name of such relative or the grantor or donor, if living, in his own name, or the State's Attorney for the county or city in which one of the Courts of Equity aforesaid has jurisdiction, as aforesaid, in the name of the State of Maryland, may file and prosecute a bill or bills in equity to procure the passage of such decree or decrees, order or orders, as may be necessary or appropriate to the enforcement or compliance with said condition, conditions or terms, and that it shall be the duty of the State's Attorney aforesaid, after notice to him of disregard or non-compliance of such corporation with said condition, conditions or terms, to proceed as aforesaid, unless said grantor or donor be living, or unless a relative of said testator or of a deceased grantor or donor shall file and bona fide prosecute such bill or bills, and that the costs and expenses of such proceedings shall be borne by said corporation.

1908, ch. 101.

113. Nothing contained in the two preceding sections is intended as, or shall be taken to be, an interpretation of existing law.

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Ibid, sec. 121. 1888, art. 16, ser. 109. 1860, art. 16, sec. 93. 1853, ch. 38.

128. In a suit against a corporation, whether foreign or domestic, if neither the president nor any of the directors, officers or agents upon whom process may be served reside in this State, such corporation may be proceeded against as a non-resident defendant, by notice by publication.*

Pleading and Practice.

1904, art. 16, sec. 201. 1900, ch. 73, sec. 186B.

215. It shall not be necessary for the answer or any other pleadings of a corporation to be under the corporate seal.

Receiver's Bond.

1910, ch. 747.

230. Whenever a receiver shall be required to give bond in any Court, and the surety upon the bond is a corporation authorized by the laws of this State to qualify as such, the amount of the penalty of the bond so required shall be fixed by the Court in an amount not exceeding the probable value of the property and assets of the estate for which the said receiver should account and be liable for according to law, and nothing herein shall prevent the Court from increasing the penalty of the bond to such an amount, as may be proper, for sufficient cause shown.

• See Article 23 on Corporation, sec. 87.

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