636

LAWS OF MARYLAND.

wise; provided, that said corporation in the investment of funds

held by it as trustee, administrator, executor, assignee, guardian

or committee, shall be subject to the laws of this State and the

rules of courts now existing or hereafter passed, governing invest-

ments of such funds by natural persons, when so acting as such

trustee, administrator, executor, assignee, guardian or committee;

that it is authorized to take, have, hold and enjoy all such estate,

real, personal and mixed, as may be obtained with the moneys

aforesaid, and also with any, every and all other funds that may

Powers.

come into its possession in course of its business dealings, and

the same may sell, grant, lease, mortgage and dispose of, in its

discretion and at its will and pleasure, and execute, acknowledge

and deliver all deeds and legal papers and any instruments con-

cerning the same, to deal in exchange, foreign and domestic, and

in every and all descriptions of properties, personal effects, securi-

ties, mortgages, lands, certificates of indebtedness, stocks of incor-

porated companies, notes, loans or bonds of the United States, or

of any city, county or municipality, or of any incorporated com-
pany or individual; provided, that no loan shall be made directly

or indirectly to any officer or employee of said corporation; and

for any violation of this provision the party or parties making or

consenting thereto, directly or indirectly, shall be liable to said

corporation for the amount so loaned, and all expenses and losses

which may result therefrom.

SEC. 20. And be it further enacted, That any officer or employee

of said corporation who shall apply any of the deposits of any

kind of said corporation to his use or to the use of any person or

Embezzle-
ment.

persons not entitled thereto without the consent of the owner of

such deposits, shall be deemed guilty of embezzlement, and upon

conviction thereof, shall be punished by imprisonment in the State

prison for a term of not less than one nor more than five years,

and shall be responsible in any suit in law for all injury, loss,

expense or damage incurred by reason of his prosecution or in

consequence of said act, either to said corporation or to any party

aggrieved, damaged or injured thereby.

SEC. 21. And be it further enacted, That said corporation shall

Award

have power and authority to provide rules, regulations, by-laws or

otherwise for, and to determine all matters of arbitrament or

award referred or submitted to it by order of any court, or agree-

ment of parties in interest whatsoever, upon such terms as may

be agreed upon, provided or established by said courts or said

parties.

Effective.

SEC. 22. And be it enacted, That this act shall take effect from

the date of its passage.

Approved April 8, 1890.