632

LAWS OF MARYLAND.

pality, or of any incorporated company, copartnership, joint

stock company or individual, upon such terms as may be agreed

upon or established by said corporation.

SEC. 4. And be it enacted, That the said body corporate shall

Right to guar-

have the right to guarantee the fidelity of any person or per-

antee fidelity

sons, firm or firms, joint stock company or joint stock com-

of persons,
etc.

panies, corporation or corporations occupying positions 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 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 authorized to become

sole security in all cases, where by law, one, two or more, se-

Liable in case

curities are required, and it shall and may be lawful for any

of default.

court, register, clerk or other officer of any court, to approve

the bond or undertaking of said corporation 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.

SEC. 5. And be it enacted, That said body corporate shall

To act as

surety.

have the right to guarantee the security, integrity and in-

come of investments in mortgages upon real or leasehold prop-

erty, or chattel interest in ground rent, annuities in stocks

and bonds of any State, city, county, municipality or cor-

poration or joint stock company or copartnership, to guarantee

the performance of any contract, to guarantee the validity of

Guaranteeing
payment.

title to real, leasehold or chattel property, or to guarantee

the payment of credit, or any part thereof, given or extended,

or to be given or extended, by or to any person or persons,

firm or firms, copartnership or copartnerships, corporation or

corporations, joint stock company or joint stock companies.

To invest

SEC. 6. And be it enacted, That the said body corporate shall

funds in any
legitimate

have the right to invest, upon such terms as may be agreed

business.

upon or established by said corporation, any sum or sums

of money in any mercantile, manufacturing, commercial or

other business, or in any lawful enterprise transacted or

carried on, or to be transacted or carried on in the State

of Maryland or elsewhere, in connection with any person,

firm, firms, copartnership, copartnerships, corporation, cor-

porations, joint stock company or joint stock companies; pro-