ART. 11] TRUST COMPANIES. 249

Eighth. To take, accept and execute any and all such trusts and
powers of whatever nature and description as may be conferred upon 'or
intrusted or committed to it by any person or persons or any body
politic, corporation or other authority, by grant, assignment, transfer,
devise, bequest or otherwise, or which may be intrusted or committed
or transferred to it or vested in it by the order of any court of the
State, and to take and receive and hold any property or estate, real or
personal, which may be the subject of any such trust.

Ninth. To purchase, invest in and sell stocks, bills of exchange,
bonds and mortgages and other securities, and when moneys or securities
for moneys are borrowed or received on deposit, or for investment, the
bonds or obligations of the company may be given therefor, but it shall
have no right to issue bills to circulate as money.

Tenth. To be appointed and to accept the appointment of executor,
or of trustee under the last will and testament, or administrator, with
or without the will annexed, of the estate of any deceased person, and
to be appointed to act as the committee of the estates of lunatics, idiots,
persons of unsound mind and habitual drunkards.
Cf. see. 23; also, art. 23. sec. 7.

1910. ch. 219. sec. 46 (p. 21).

47. When any such corporation is appointed executor in any last
will and testament, the court or officer authorized to grant letters testa-
mentary in this State shall, upon the proper application, grant letters
testamentary thereon to such corporation. When application is made
to any court or officer having authority to grant letters of administra-
tion with the will annexed upon the estate of any deceased person, and
there is no person entitled to such letters who is qualified, competent,
willing and able to accept such administration, such court or officer
may, at the request of any party interested in the estate, grant such
letters of administration, with the will annexed, to any such corporation.
Any court or officer having authority to grant letters of guardianship
of any infant, may, upon the same application as is required by law
for the appointment of a guardian of such infant, appoint any such
corporation as guardian of the estate of such infant. Any court having
jurisdiction to appoint a trustee, guardian, receiver or committee of
the estate of a lunatic, idiot or habitual drunkard, or to make any
fiduciary appointment, may appoint any such corporation to be such
guardian, trustee, receiver or committee, or to act in any other fiduciary
capacity. Any court into which moneys may be paid by parties, or
be brought by order of judgment, may, by order, direct the same to be
deposited with any such corporation.

1910. ch. 219, sec. 47 (p. 22).

48. No bond or other security shall be required from any trust com-
pany for or in respect to any trust to which it shall be appointed
executor, administrator, guardian, trustee, receiver, committee or
depositary by the order of any court. In all cases in which such trust