638

LAWS OF MARYLAND.

rector, who is not a stockholder to the amount of five shares of

stock.

SEC. 5. And be it enacted, That ten days' notice shall bo given

by publication in one newspaper published in Talbot county, of

Notice.

the time and place of said annual election, which election shall be

conducted by three stockholders, to be elected from the body of

stockholders, one of whom shall be designated to act as judge, and

the other two as inspectors.

SEC. 6. And be it enacted, That the directors shall have power

Dividends.

to declare such dividends of profits of the said company as they

may deem proper; provided, that no dividend shall be declared

when the capital stock would be impaired thereby.

SEC. 7. And be it enacted, That the capital stock of said com-

pany shall be invested in bonds and mortgages upon fee-simple

Invest-
ment.

or leasehold estate, or in securities or bonds of the United Stales,

or in stocks, securities or bonds of States or of incorporated cities,

or in notes of individuals, or in such real estate as may be required

for the use of the company in the erection of a suitable building

in which to carry on its business, in the discretion of the com-

pany.

SEC. 8. And be it enacted, That said company shall have power

to receive money in trust, and to accumulate the same at such

legal rate of interest as may be obtained or agreed on, or to allow

interest not exceeding the legal rate; to accept and execute trusts

Trust.

of every description, as fully as a natural person could, which may

be committed to said company by any person or persons whatso-

ever, or by any corporation, or by order or decree of any court of

record upon such terms as may be agreed upon; to act as agent

for the purpose of issuing, registering or countersigning certifi-

cates of stock, bonds or other evidence of debt of any State, cor-

poration, association, municipality or public authority, on such

terms as may be agreed upon, to accept, form and execute trusts

for married women in respect of their separate property or estate,

whether real, personal or mixed, and to act as agents for them in

the management, sale and disposition of their properties, also to

buy, sell, improve and develop real estate.

SEC. 9. And be it enacted, That in all cases where an applica-

tion shall be made to any court or orphans' court having jurisdic-

Guardian.

tion for the appointment of a guardian of the estate of an infant

or lunatic, the said court shall have power to appoint said com-

pany as guardian or committee of the estate of such infant or

lunatic upon application on behalf of said parties.

SEC. 10. And be it enacted, That said company is authorized

and shall have discretionary power to invest at its pleasure moneys

received in trust on deposit, loaned or otherwise; that it is author-

ized to take, have, hold and enjoy all such estate, real, personal