652

LAWS OF MARYLAND.

any public officer or municipal corporation having control of any

bonds, stocks, securities, money or other valuables belonging to

others, shall be and is hereby authorized to deposit the same for

safe keeping with this company.

SEC. 13. And be it enacted, That whenever any court shall ap-

point this company, assignee, receiver, guardian, committee,

executor or administrator, or to execute any trust whatever, or as

the depository of any moneys or property of any kind, or approve

of it as security, the said court may in its discretion or upon the

To Investi-

.application of any person interested appoint a suitable person to

gate.

investigate the affairs and management of this company, who

shall report to such court the manner in which its investments

are made and the security afforded to those by or for whom its

engagements are held, and the expense of such investigation cer-

tified by such court to be just and reasonable shall be defrayed

by this company, or such court may if deemed necessary examine

the officers of this company under oath or affirmation as to the

security aforesaid.

SEC. 14. And be it enacted, That this company shall keep all

trust funds and investments separate and apart from its own assets;

and such trust funds shall not be subject to the liabilities of this

Trust de-

company, and for the purpose of securing the observance of this

partment

section this company shall have a trust department in which all

business authorized by the tenth section of this act shall be kept

separate and distinct from its general business, and all invest-

ments made by it in any fiduciary capacity shall be so designated

that the trust to which such investments or assets shall belong

shall be clearly shown.

SEC. 15. And be it enacted, That the directors of this company

may, from time to time, set apart as a trust guarantee fund such

portion of its profits as they may deem expedient, and the ac-

counts of the investment and management, and the securities in

which such trust guarantee fund is invested shall be kept in the

trust department provided for by the next preceding section; and

Guarantee

the said trust guarantee fund shall be absolutely, pledged for the

fund.

faithful performance by this company of all its duties and un-

dertakings which it is empowered under the tenth section of this

act to accept, even in case some other section hereof is deemed

ample enough to authorize such acceptance, and shall be applied

to make good any default in such performance; and such pledge

and liability shall not in any respect deprive those , creditors of

this company whose security it is the intention of this section to

increase of the preference given to them by the eleventh section

hereof, but shall be in addition thereto; and no portion of such

trust guarantee fund shall be transferred to the general capital

stock of this company while it has any undertakings of the kind

mentioned in the tenth section hereof, for whose performance