JOHN WALTER SMITH, ESQ., GOVERNOR.

when a meeting shall be held in pursuance of such notice it
shall be organized and its proceedings shall be conducted as
may be prescribed by the by-laws of the company.

499

SEC. 5. And be it enacted, That the directors shall have
power to declare such dividends of profits of the said com-
pany as they may deem proper, provided that no dividend
shall be declared, when the capital stock would be impaired
thereby.

Power to
declare
dividends.

SEC. 6. And be it enacted, That the president, vice-presi-
dent and directors of the corporation hereby created shall
have power to enact and adopt such rules, regulations and
by-laws for the government and management of the affairs of
said corporation as they may deem advantageous to the inter-
ests thereof.

Adopt rules
and
regulations.

SEC. 7. And be it enacted, That the said corporation be and
it is hereby authorized and empowered to accept and execute,
as fully as a natural person, trusts of any and every descrip-
tion, which may be committed or transferred to it, with its
consent, by any person or persons whomsoever (other than by
last will), bodies corporate or public, upon such terms as may
be agreed upon by and between the said corporation and said
person, natural or corporate, or by any court in the State of
Maryland (other than the Orphans' Court), or by the courts
of the United States, or of any of the States or Territories
thereof; and in all cases when application shall be made to
any court of this State for the appointment of any receiver,
trustee or assignee, it shall and may be lawful for such court

Authority to
execute trusts,
etc

to appoint the said corporation such receiver, trustee or
assignee, and the accounts of said corporation as such
receiver, trustee or assignee shall be regularly settled before
the court making such appointment; and upon such settle-
ment and adjustment all proper, legal and customary charges,
costs and expenses shall be allowed to said corporation for its
care and management of the trusts and estate aforesaid in
accordance with the practice of the court so appointing in the
case of natural persons when so appointed; and the said cor-
poration, as such receiver, trustee and assignee, shall be sub-
ject to all lawful orders or decrees made bv said court; but
nothing herein contained shall be construed as authorizing or
empowering said corporation to act as executor or adminis-
trator, with or without the will, or as trustee under or by
appointment in any last will or testament.

SEC. 8. And be it enacted, That the said corporation be and
is hereby authorized and empowered to receive and keep on

Courts may
appoint as
receiver,
trustee, etc.