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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 337   View pdf image (33K)
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BANKS AND TRUST COMPANIES. 337

municipal or corporate trusts not inconsistent with the laws of this State.

Fifth. To accept trusts from and execute trusts for married women,
in respect to their separate property, and to be their agent in the manage-
ment of such property, or to transact any business in relation thereto.

Sixth. To act under the order or appointment of any court of record as
guardian, receiver or trustee of the estate of any minor or other person
or corporation, and as the depositary of any moneys paid into court,
whether for the benefit of any such minor or other person, corporation or
party.

Seventh. To take, accept and execute any and all such legal trusts,
duties and powers in regard to the holding, management and disposition
of any estate, real or personal, and the rents and profits thereof, as may be
granted or confided to it by any court of record, or by any person, corpora-
tion, municipality or other authority; and it shall be accountable to all
parties in interest for the faithful discharge of every such trust, duty or
power which it may so accept.

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 other-
wise, 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 exercise, by its directors, duly authorized officers or agents,
all such powers as shall be usual in carrying on the business of banking; by
buying, discounting and negotiating promissory notes, bonds, drafts, bills
of exchange, foreign and domestic, and other evidences of debt; by receiv-
ing deposits of money upon which interest may be paid; by buying and
selling coin and bullion; by buying and selling exchange, foreign and
domestic; by purchasing, investing in and selling stocks, bills of exchange,
bonds and mortgages and other securities; by accepting for payment at a
future date, drafts or bills of exchange drawn upon it, having not more than
six months to run, which grow out of transactions involving the impor-
tation or exportation of goods, or which grow out of transactions involving
the domestic shipment of goods, provided shipping documents conveying or
securing title are attached at the time of acceptance, or which are secured
at the time of acceptance, by a warehouse receipt or other such document
conveying or securing title covering readily marketable staples; by accept-
ing drafts or bills of exchange drawn upon it having not more than three
months' sight to run, by banks or bankers in foreign countries or depen-
dencies or insular possessions of the United States for the purpose of
furnishing dollar exchange as required by the usages of trade in the respec-
tive countries, dependencies, or insular possessions, provided that it shall not
accept such drafts or bills of exchange for the purpose of furnishing dollar
exchange for any one bank or banker to an amount exceeding in the aggre-
gate ten per centum of the paid-up and unimpaired capital and surplus
of the accepting company unless the draft or bill of exchange is accompanied

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 337   View pdf image (33K)
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