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652
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LAWS OF MARYLAND.
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any public officer or municipal corporation having control of any
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bonds, stocks, securities, money or other valuables belonging to
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others, shall be and is hereby authorized to deposit the same for
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safe keeping with this company.
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SEC. 13. And be it enacted, That whenever any court shall ap-
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point this company, assignee, receiver, guardian, committee,
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executor or administrator, or to execute any trust whatever, or as
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the depository of any moneys or property of any kind, or approve
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of it as security, the said court may in its discretion or upon the
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To Investi-
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.application of any person interested appoint a suitable person to
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gate.
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investigate the affairs and management of this company, who
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shall report to such court the manner in which its investments
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are made and the security afforded to those by or for whom its
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engagements are held, and the expense of such investigation cer-
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tified by such court to be just and reasonable shall be defrayed
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by this company, or such court may if deemed necessary examine
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the officers of this company under oath or affirmation as to the
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security aforesaid.
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SEC. 14. And be it enacted, That this company shall keep all
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trust funds and investments separate and apart from its own assets;
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and such trust funds shall not be subject to the liabilities of this
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Trust de-
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company, and for the purpose of securing the observance of this
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partment
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section this company shall have a trust department in which all
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business authorized by the tenth section of this act shall be kept
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separate and distinct from its general business, and all invest-
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ments made by it in any fiduciary capacity shall be so designated
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that the trust to which such investments or assets shall belong
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shall be clearly shown.
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SEC. 15. And be it enacted, That the directors of this company
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may, from time to time, set apart as a trust guarantee fund such
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portion of its profits as they may deem expedient, and the ac-
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counts of the investment and management, and the securities in
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which such trust guarantee fund is invested shall be kept in the
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trust department provided for by the next preceding section; and
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Guarantee
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the said trust guarantee fund shall be absolutely, pledged for the
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fund.
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faithful performance by this company of all its duties and un-
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dertakings which it is empowered under the tenth section of this
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act to accept, even in case some other section hereof is deemed
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ample enough to authorize such acceptance, and shall be applied
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to make good any default in such performance; and such pledge
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and liability shall not in any respect deprive those , creditors of
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this company whose security it is the intention of this section to
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increase of the preference given to them by the eleventh section
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hereof, but shall be in addition thereto; and no portion of such
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trust guarantee fund shall be transferred to the general capital
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stock of this company while it has any undertakings of the kind
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mentioned in the tenth section hereof, for whose performance
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