132 ARTICLE 11.

tion as provided in its charter has been paid in, in money, as hereinbefore
in this sub-title directed; and if it appears in such examination that such
capital has not been fully paid in in money, as hereinbefore in this sub-
title directed by the bona fide stockholders or subscribers as shown by a
certified list which shall hare been furnished the Bank Commissioner,
previous to this time, showing the name, residence and actual number of
shares subscribed to and paid for, a certificate of authorization shall not
be granted; and no such corporation shall commence business until such
certificate of authorization has been granted.

An. Code, 1924. sec. 46. 1912, sec. 46. 1910, ch. 219, sec. 45 (11. 20).

1918, ch 33. 1920, ch. 268, sec. 46. 1924, ch. 430.

1931. ch. 429, sec. 46.

46. Upon the filing of any such certificate of authorization of a trust
company, the persons named therein and their successors shall thereupon
and thereby become a corporation and shall possess the following powers:

First. To act as the fiscal or transfer agent of any State, municipality,
body politic or corporation; and in such capacity to receive and disburse
money, to transfer, register and countersign certificates of stock, bonds or
other evidences of indebtedness, and to act as agent of any corporation,
foreign or domestic, for any lawful purpose.

Second. To receive deposits of trust moneys, securities and other
personal property from any person or corporation, and to loan money on
real or personal securities and to receive money on deposit.

Third. To lease, hold, purchase and convey any and all real property
necessary in the transaction of its business, or which the purposes of the
corporation may require, or which it shall acquire in satisfaction or partial
satisfaction of debts due the corporation under sales, judgments or mort-
gages, or in settlement or partial settlement of debts due the corporation
by any of its debtors.

Fourth. To act as trustee under any mortgage or bond issued by any
municipality, body politic or corporation, and accept and execute all other
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 management
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