THEODORE R. MCKELDIN, GOVERNOR 51
CHAPTER 20
(House Bill 22)

AN ACT to repeal Section 76 of Article 11 of the Annotated
Code of Maryland (1939 Edition), title "Banks and Trust
Companies", sub-title "General Regulations, " said section
relating to the consolidation and merger of banking institu-
tions in this State, and to add nine new sections to said
Article 11, said new sections to be known as Sections 107A-
107-I, inclusive, to follow immediately after Section 107
thereof and to be under the new sub-title "Mergers, " relating
generally to the merger of banking institutions in this State,
to the procedure to be followed and to the rights and duties
of the Bank Commissioner and of the several parties thereto.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 76 of Article 11 of the Annotated Code of
Maryland (1939 Edition), title "Banks and Trust Companies, "
sub-title "General Regulations, " be and it is hereby repealed
and that nine new sections be and they are hereby added to
said Article 11, said new sections to be known as Sections
107A—107-I, inclusive, to follow immediately after Section 107
thereof, to be under the new sub-title "Mergers, " and to read as
follows:

MERGERS

107A. (Definitions. ) As used in this sub-title.

(1) "Bank" means a state or a national bank.

(2) "Constituent Bank" means a party to a merger.

(3) "Converting Bank" means a bank converting from a
state to a national bank, or the reverse.

(4) "Converted Bank" means the same bank after the con-
version.

(5) "Merger" includes consolidation.

(6) "Resulting Bank" means the combined bank and trust
companies carrying on business upon completion of a merger.

(7) "State Bank" means a bank or trust company chartered
by this State under any general or special law.

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EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.