JOHN WALTER SMITH, ESQ., GOVERNOR.

corporation, and that any executor, administrator, trustee,
assignee, receiver, guardian or committee, or State, county
or municipal government or corporation, or public officer, or
any person or persons whatsoever, having the custody or con-
trol of any bonds, stocks, securities, evidence of indebtedness,
moneys or other valuables belonging to others, shall be and
they are hereby authorized to deposit the same for safe keep-
ing 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 such suit-
able buildings and all other means which may be or become
necessary, and to maintain and let for hire vaults, safes and
like receptacles.

611

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 val-
uables 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 orders 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 any 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 engage-
ments are held, and the expenses of such investigations 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
taken as
security.

SEC. 12. And be U further enacted, That in case of the
dissolution of said corporation, the debts due from the corpo-
ration as receiver, trustee, assignee, executor, administrator,
guardian or committee or depository of money, under order
of court, shall have preference in the distribution of assets of
said corporation.

Preference
in case of
dissolution.

SEC. 13. And be it further enacted, That the said corpora-
tion shall have power to receive money on deposit, subject to
check or otherwise, evidences of debt for collection, for dis-
count or otherwise, merchandise, specie, plate, bullion, stocks,
bonds, promissory notes, certificates and evidences of debts,

Power to
receive money
on deposit,
etc.