328

LAWS OF MARYLAND.

Authority to
purchase and
hold, bargain
and sell, etc.

SEC. 3. And be it further enacted, That the said body cor-
porate shall have the right to purchase and hold, bargain and
sell, grant, assign and convey land or any interest or estate
therein, chattels, choses in action, checks, notes, bills
receivable, bills payable, bills of exchange, due bills, certifi-
cates of deposit, warehouse receipts, stocks, bonds, mortgages
on real, leasehold or chattel property and every and any
evidence of debt, to advance or lend money upon the security
thereof by receiving and holding the same on such terms as
may be agreed upon or established by the said company, or
of accepting mortgages or other liens thereon or otherwise,
and generally to deal in every and all descriptions of property
or properties, personal effects, securities, mortgages, land,
certificates of indebtedness, stock of incorporated companies,
loans on bonds of the United States, or of any State, City,
County or municipality, or of any incorporated company,
copartnership, joint stock company or individual upon such
terms as may be agreed upon or established by said corporation.

Right to
guarantee
persons, corpo-
rations, etc.

SEC. 4. And be it further enacted, That the said body cor-
porate shall have the right to guarantee the fidelity of any
person or persons, firm or firms, joint stock company or joint
stock companies, corporation or corporations occupying posi-
tions of trust or responsibility, and to insure the performance
of any lawful undertaking whatsoever upon such terms as
may be agreed upon or established by said corporation, and
the capital stock of said corporation, and all of its property
and estate, shall be taken and considered as the sole security
required by law for the faithful performance of the duties so
undertaken, and shall be absolutely liable in case of any
default whatsoever, and the said corporation is further author-
ized to become sole security in all cases where by law one, two
or more securities are required, and it shall and may be
lawful for any court, register, clerk or other officer of any
court to approve the bond or undertaking of said corpora-
tion as sole security in all such cases, but in such cases the
officers and affairs of the said corporation may be subject
to examination at any time by such court, or by the officers
or agents thereof, who may be by such court directed to
make such examinations.

May guarantee
the security
and income of
investments
etc.

SEC. 5. And be it further enacted, That said body cor-
porate shall have the right to guarantee the security, integ-
rity and income of investments in mortgages upon real or
leasehold property, or chattel interest in ground rent, annui-
ties in stocks and bonds of any State, city, county, munici-
pality or corporation, or joint stock company or copartner-