134 ARTICLE 11.

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, per-
sons of unsound mind and habitual drunkards.

Eleventh. To deposit securities for the purpose of securing deposits
of the United States Government and its agencies, and the State of
Maryland and counties, cities, towns and other political subdivisions
of the State of Maryland, or to secure the surety or sureties on bonds
furnished to secure such deposits.

Where will directed money to be deposited in some good banking institution,
interest to be paid during life to testator's sisters, it was duty of executrix to
deposit under direction of Orphans' Court or court of equity, but money so
deposited was not paid into court within meaning of secs. 46, 47 and 48.
Melville v. Page, 165 Md. 597.

The provisions of secs. 46-49 have no application unless trust company has
been appointed trustee or other fiduciary by virtue of jurisdiction of the court.
Ghingher v. O'Connell. 165 Md. 271.

This section referred to in construing sec. 9. Public Indemnity Co v. Page,
161 Md. 239

Cited but not construed in Ghingher v. Pearson, 165 Md. 294.
See notes to sec. 54

47.

As to fiduciary, see art. 37A

The provisions of secs. 46-49 have no application unless trust company has
been appointed trustee or other fiduciary by virtue of jurisdiction of the court.
Ghingher v. O'Connell, 165 Md. 271.

See notes to sec. 46.

An. Code, 1924, sec. 48. 1912, sec. 48. 1910, ch. 219, sec. 47 (p. 22).
1933, ch. 546, sec. 48.

48. Any such Corporation whether incorporated under this article or
by special act, which shall hereafter be appointed Executor, Adminis-
trator, Guardian, Trustee, Receiver, Committee or Depository by the
Order of any Court shall be required to give bond for the faithful per-
formance of its duties in all cases where such bond is or may be required
of a natural person so appointed or acting, provided such bond shall be
requested by any person in interest or ordered by the Court. In all cases
in which such Trust Companies, whether incorporated under this Article
or by special act, and whether appointed by an order of court or other-
wise, shall be acting as Executor, Administrator, Guardian, Trustee, Re-
ceiver, Committee, or in any other fiduciary capacity, they shall be
responsible for losses of moneys or property received or held by them in
any such character in the same cases and to the same extent as indi-
viduals so acting would be. Upon the dissolution of any trust company
by the Legislature, Court or otherwise, or in case of its insolvency, all
debts or liabilities due or owing by said corporation in any of said fiduciary
capacities, shall be preferred in the distribution of the assets of such
company to all debts or liabilities of any nature whatsoever, including
salaries and wages of employees and other preferred debts or liabilities.