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644
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LAWS OF MARYLAND.
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SEC. 13. And be it enacted. That said company may receive on
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storage, deposit or otherwise, merchandise, specie, plate, bullion,
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stocks, promissory notes, certificates and evidences of debt, con-
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May re-
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tracts and all other personal properties whatsoever, and custody
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ceive on
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of real and personal estates and securities, and advance money
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deposit.
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thereon on such terms as may be established or approved by said
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company; that in all cases in which public officers or municipal
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or private corporations are authorized to deposit money, stock,
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bonds or evidences of debt, such deposits by such officers or cor-
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porations may be made with said company.
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SEC. 14. And be it enacted, That it shall be lawful for said
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company to sell at public auction or private sale in its discretion,
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all property whatsoever mentioned or specified in any contract or
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agreement between the company and other parties, after ten days
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have elapsed from the time of maturity of any obligation under
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To sell
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said contract or agreement, or immediately upon the discovery of
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any fraud, misrepresentation or concealment in regard to the owner-
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ships or otherwise which jeopardize the rights of the company or
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its security, and to re-imburse itself the money due it with interest,
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storage, costs and charges, and to indemnify itself for any loss
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sustained by reason of such misrepresentation, fraud or conceal-
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ment as aforesaid.
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SEC. 15. And be it enacted, That said company shall have power
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To deter-
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and authority to provide rules, regulations, by-laws or otherwise,
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mine.
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and to determine all matters of arbitrament or award referred or
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submitted to it by order of any court or agreement of parties in
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interest whatsoever, upon such terms as may be agreed upon by
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said courts or said parties.
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SEC. 16. And be it enacted, That any and every court of any
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Courts
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State into which moneys may be paid or deposited by agreement
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may order
deposit.
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of parties, order, judgment or decree of such court, may order or
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direct the same to be deposited with said company; said company
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is authorized to collect incomes of estates, to act as executor,
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guardian, administrator, assignee or receiver, and to take custody
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of wills and all legal documents.
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SEC. 17. And be it enacted, That whenever the said company
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shall be appointed assignee, receiver, guardian, committee, trustee,
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executor or administrator, or whenever deposits of moneys or of
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valuables of any kind shall be made with said company the capi-
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Security.
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tal stock as subscribed for and its property and all effects taken
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shall be taken and considered as the security required by law for
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the faithful performance of its duties, and shall be absolutely
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liable, and no bond or other security shall be required from it
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unless the court making the appointment shall otherwise order,
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and in case of dissolution by a court of equity or law or other-
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wise, the debts, dues, moneys and obligations due from it shall
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have preference.
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