434 CHANCERY. [ART. 16

This section applies to a deed creating a trust to hold property for a time
and then convey, it absolutely, an Incidental power of sale being conferred.
Talbott v. Leatherbury, 92 Md. 168.

This section applied. Chappell v. Clarke, 94 Md. 181.

This section referred to in construing section 237—see notes thereto. Phil-
bin v. Thurn, 103 Md. 347.

Cited but not construed in Druid, etc., Co. v. Oettinger, 53 Md. 60.

As to the payment of the premium of the bond out of the estate being
administered, see art. 24, sec. 10.

1904, art. 16, sec. 220. 1888, art. 16, sec. 204. 1860, art. 16, sec. 139.
1785, ch. 72, sec. 10.

236. The bond of every trustee appointed by the court, and the
bonds of trustees who are ordered by the court to give bond, shall be
filed with the clerk of such court and recorded.
See notes to sec. 235.

Ibid. sec. 221. 1888, art. 16, sec. 205. 1874, ch. 483, sec. 107. 1892, ch. 241.

1900, ch. 114.

237. Every trustee to whom any estate, real, personal or mixed
shall be limited or conveyed for the benefit of creditors, or to be sold
for the benefit of creditors, or to be sold for any other purpose, except
upon a contingency, shall file with the clerk of the court in which the
deed or instruments creating the trusts may be recorded, a bond in such
penalty as the clerk may prescribe, being as nearly as can be ascertained
double the amount of the whole trust estate, and with sureties to be
approved by the clerk, conditioned for the faithful performance of the
trust reposed in such trustee, which bond shall be retained and recorded
in the office of said clerk, and no title shall pass to any trustee as afore-
said until such bond shall be filed and approved as aforesaid, and no
sale made by any such trustee without such bond shall be valid or pass
any title to such property or estate. If the trust estate consists of real
property, or of real and personal property, situated partly in the county
or city in which the grantor resides, and partly in one or more other
counties, it shall be sufficient that a bond has been accepted and filed in
the county of the grantor's residence; if the trust estate consists entirely
of real estate in a county or counties other than of the residence of the
grantor, it shall be sufficient that a bond has been accepted and filed in
the county in which the deed has been first recorded.

Application of this section.

This section applies only to deeds creating trusts for the sale of property
for the benefit of creditors or otherwise. It has no application to a deed
creating a trust to hold property and then convey it absolutely, although an
incidental power of sale is conferred. Talbott v. Leatherbury. 92 Md. 168;
Union Trust Co. v. Ward. 100 Md. 101; Casualty Co.'s Case. 82 Md. 562.

This section held not to apply where money is deposited by a casualty
company with the treasurer of Maryland to guarantee the payment of
policies, although a trust is thereby created. Casualty Co.'s Case, 82 Md.
562. And see Union Trust Co. v. Ward. 100 Md. 101.

This section does not apply to an assignment for the benefit of creditors
executed by a resident of another state conveying choses in action and per-
sonal property situated in this state. This section has no application if
the deed of trust is not required to be recorded. Moore v. Land Title, etc..
Co., 82 Md. 280: United Rys.. etc., Co.. v. Rowe, 97 Md. 658.