§ 3-213

Maryland § 3-213

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 3

Text

(a) Any commercial bank may amend its charter, in any manner not inconsistent with law, as provided in this section.

(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.

(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.

(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.

(e) On filing the amendment for examination, the commercial bank shall pay to the Commissioner an examination fee of $20.