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§ 3-213. Amendments to charter

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 2. Formation and Powers (Refs & Annos)
MD Code, Financial Institutions, § 3-213
§ 3-213. Amendments to charter
Currentness
In general
(a) Any commercial bank may amend its charter, in any manner not inconsistent with law, as provided in this section.
Proposed amendments
(b) A proposed amendment shall be approved at a meeting called for that purpose, by the affirmative vote of the holders of two thirds of the capital stock of the commercial bank.
Issuance of preferred stock
(c) If the proposed amendment is to authorize the issuance of preferred stock, the proposed amendment shall be approved by the affirmative vote of the holders of a majority of the capital stock of the commercial bank.
Certification of amendment
(d) After an amendment is approved by the stockholders:
(1) The president of the commercial bank and either its cashier or treasurer shall certify the amendment; and
(2) The amendment shall be signed, filed with the Commissioner for examination, and, if approved by the Commissioner, filed for record as required for articles of incorporation.
Amendment for examination
(e) On filing the amendment for examination, the commercial bank shall pay to the Commissioner an examination fee of $20.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 807, § 1; Acts 1996, c. 326, § 2, eff. July 1, 1996.
MD Code, Financial Institutions, § 3-213, MD FIN INST § 3-213
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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