654

LAWS OF MARYLAND.

regard to the ownership or otherwise, which jeopardizes the rights

of this company or its security, and to reimburse itself out of

the proceeds of such sale for the money due it, with interest,

storage, costs and charges, and to indemnify itself for any loss it

may have sustained by the non-fulfilment of such contract or by

reason of said misrepresentation, fraud or concealment aforesaid.

SEC. 20. And be it enacted, That if any director or directors,

or other officer or officers, or employee or employees of this com-

pany shall embezzle or fraudulently appropriate to his or their

own use, or to the use of any other person or persons auy money

Misdemea-

or other property of any kind belonging to this company, or left

nor.

with or held by this company in trust as a special deposit or

otherwise, he or they shall be guilty of a misdemeanor, and on

conviction thereof shall be sentenced to undergo imprisonment

in the penitentiary for a term of not less than one nor more than

five years, and shall be responsible in a civil action either to this

company or to the person or persons aggrieved, for the amount

so embezzled or fraudulently appropriated with interest thereon,

and all proper costs and charges, including counsel fees incident

to recovering the same.

SEC. 21. And be it enacted, That this company shall have power

to determine all matters of arbitrament and award referred or

submitted to it by any order of court, or by agreement of parties

Award.

in interest, upon such terms as may be agreed upon or provided

or established by said court or said parties, and to make all need-

ful rules and regulations for so doing; and any court of this

State is hereby authorized to refer or submit any matter to the

sole arbitrament of this company, which by law it is authorized

to refer or submit to natural persons, and every award made by

this company shall be signed by the president, or in case of his

absence or inability to act, by the vice-president, or other officer

in that event designated by the by-laws, and shall be duly attested

under its corporate seal by the secretary or other officer of this

company who may be in like manner designated to make such

alteration.

SEC. 22. And be it enacted, That in so far as the provisions of

this act are inconsistent with the provisions of article twenty-

three, of the Code of Public General Laws of Maryland, applica-

ble to trust companies, the provisions of this act shall prevail,

Construc-
tion.

and this act is hereby declared to be a public act, and shall be

construed favorably for every beneficial purpose therein contained.

but shall not be construed to confer upon this company, any right

to make any contract or to accept or execute any trust whatever

which it would not be lawful for natural persons nnder the

general rules of law which are or shall be enforced to make, exe-

cute or accept.