JOHN WALTER SMITH, ESQ., GOVERNOR.

securities, promissory notes, contracts, deeds or muniments
of title, or other valuable papers of any kind, or any other
article or thing whatsoever, and advance money thereupon,
on such terms as may be established or approved by said cor-
poration; and that in all cases in which public officers or
municipal or private corporations are authorized to deposit
money, stocks, bonds, securities or evidences of debt, such
deposits by said officers or corporations may be made with
said company; and it may and shall be lawful for any of the
courts of this State or of any other State or United States
courts into which moneys, stocks, bonds or other property
may be paid or deposited by agreement of parties, order,
judgment or decree of such court, to order and direct the same
to be deposited with said corporation, and that any executor,
administrator, trustee, assignee, receiver, guardian or com-
mitee, or State, county, municipal government or corporation,
or public officer, or any person or persons whatsoever, having
the custody or control of any bonds, stocks, securities, evi-
dences of indebtedness, moneys or other valuables, belonging
to others, shall be and is hereby authorized to deposit the same
for safe keeping with said corporation; and for the complete
preservation of all articles or things deposited for safe-keeping,
the said corporation may construct, erect, purchase or lease
suitable buildings, and all other means which may be or
become necessary, and to maintain and let for hire vaults,
safe and like receptacles.

471

SEC. 11. And be it further enacted, That when any court
shall appoint the said corporation a receiver, trustee, assignee,
executor, administrator, guardian or committee, or shall
order the deposit of money, stocks, bonds, securities or other
valuables of any kind with said corporation, the capital stock,
as paid in, shall be taken and considered as the security
required by law for the faithful performance of any duty
imposed upon it, by order or decrees of such court, unless
the said court shall deem it proper to require further security;
and the said corporation shall be absolutely liable in case of
any default whatever. Such court may, from time to time,
and whenever deemed advisable, appoint suitable persons to
investigate the affairs and management of said corporation,
who shall report to such court the manner in which such
investments are made, and the security afforded to those by
and for whom its engagements are held, and the expenses of
such investigation shall be defrayed by said corporation ; or
the court may, if deemed necessary, examine the officers of
said corporation, under oath or affirmation, in regard to the
management of its affairs and as to the security aforesaid.

Capital stock
may be
received as
security for
faithful
performance
of duty.