432 ARTICLE 11

1939, ch. 308, sec. 64E.

87. Any banking institution as defined in Section 63 of this Article,
whether incorporated under this Article or by special act, which shall
hereafter be appointed executor, administrator, guardian, trustee, receiver,
committee or depositary by the order of any court shall be required to give
bond for the faithful performance of its duties in all cases where such
bond is or may be required of a natural person so appointed or acting, pro-
vided such bond shall be requested by any person in interest or shall be
ordered by the court.

1939, ch. 308, sec. 64F.

88. In all cases in which any banking institution as defined in Sec-
tion 63 of this Article, whether incorporated under this Article or by
special Act, shall be acting as executor, administrator, guardian, trustee,
receiver, committee or in any other fiduciary capacity, it shall be responsi-
ble for losses of monies or property received or held by it in any such
fiduciary capacity, in the same cases and to the same extent as individuals
so acting would be.

An. Code, 1924, sec. 65. 1912, sec. 62C. 1918, ch. 33, sec. 62C.

89. Notwithstanding anything in this Article contained, any banking
institution which is a member of the Federal Reserve System, shall not be
required to keep any reserve or reserves other than those required and
prescribed for banking institutions which are members of said Federal
Reserve System.

An. Code, 1924, sec. 66. 1912, sec. 63. 1910, ch. 219, sec. 62 (p. 28).

90. Whenever the reserves of any bank or trust company shall fall
below the amount required herein to be kept, such bank or trust company
shall not increase its loans or discounts, otherwise than by discounting or
purchasing bills of exchange payable at sight on demand, and the Bank
Commissioner shall notify any bank or trust company whose reserves may
be below the amount herein required, to make good such reserves, and in
case the bank or trust company fails for thirty days thereafter to make
good such reserve, the Bank Commissioner may notify the Governor, and
he may direct the Attorney-General to institute proceedings for the ap-
pointment of a receiver or to wind up the business of such bank or trust
company.

Cited in holding that trustee, who was president of trust company in which trust
fund was deposited, had sufficient knowledge of financial situation to make him liable
for loss of trust fund by his failure to remove it and convert it into safer investment.
Zimmerman v. Coblentz, 170 Md. 483.

An. Code, 1924, sec. 67. 1912, sec. 64. 1910, ch. 219, sec. 63 (p. 28). 1933, ch. 575.
1933 (Special Sess.), ch. 112. 1937, ch. 177.

91. The total liabilities of any person, co-partnership or corporation, to
any bank or trust company for money borrowed shall at no time exceed
10 per cent, of the amount of the surplus and paid-in capital of such
bank or trust company; provided, that by a two-thirds vote of the directors
said liabilities may be increased to a total sum not exceeding thirty per
cent. (30%) of said surplus and paid-in capital where the amount of