56

LAWS OF MARYLAND.

Officers

and to appoint and employ such otlier officers, clerks and

agents as the business of said company from time to time

requires ; all elections shall be by ballot, and at such elec-

tions, and all meetings of stockholders, every stockholder

shall be entitled to one vote for each share of stock held by

him, but no person shall be eligible as a director who is not

a stockholder to the amount of twenty shares of stock.

13. And be it enacted, That whenever the said company

shall be appointed assignee, receiver, trustee, guardian,

Stock

exeeutor, administrator, or whenever deposits of money or of

Security

valuables of any kind shall be made with said company, the

for Per-
formance

capital stock and its property and effects as paid in, shall

of Duties

be taken and considered as the security required by law for

the faithful performance of its duties, and shall be abso-

lutely liable, and no bond or other security shall be required

from it ; when appointed executor, administrator, guardian,

receiver, trustee, assignee or depository, aud in case of a

dissolution by a court of law or equity, or otherwise, the

debts, dues, moneys and obligations due from it as afore-

said shall have preference.

Effective

SEC. 2. And be it enacted, That this act shall take effect

from the date of its passage.

Approved March 1st, 1892.