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Proceedings of the Senate, 1892
Volume 400, Page 1081   View pdf image (33K)
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1892.] OF THE SENATE. 1081

Trust Company," incorporated by an Act of the Gen-
eral Assembly of Maryland, passed at the January
Session, 1884, chapter 425.

With the following proposed amendments :
AMENDMENTS PROPOSED.

Strike out "section 10" of the bill, and insert:

"Section 10. The said corporation shall also have
power to act under the appointment of any Court as
executor, administrator, guardian, committee of lu-
natic, receiver, assignee, trustee or other fiduciary;
provided, that before it shall proceed to exercise any
of the powers granted by this section, its capital shall
be increased and paid up to the amount of five hun-
dred thousand dollars; and provided further, that
every Court wherein the said company shall be ap-
pointed to any of the offices above named, shall have
power to make all orders upon the said corporations
and compel obedience thereto, and require it to render
all accounts which the said Court might lawfully make
or require if the said company were a natural person."

Make section 11, of the written bill, numbered as
section 12:

"Sec. 12. In all cases in which said corporation
shall become or be appointed to the office of trustee,
executor, administrator, guardian, committee of lu-
natic, receiver, assignee or other fiduciary, and a nat-
ural person would, in such case, be required to give
bond for the performance of the duties of his office,
the entire capital, property and effects of said corpo-
ration shall be bound for the faithful performance of
its duties as such fiduciary, and shall be absolutely
liable therefor ; and no other bond or security shall
be required of it, unless the Court should deem it
necessary to require further security."

Which were adopted.

Said bill, as amended, was read the second time,
and ordered to be engrossed for a third reading.

REPORTS OF SELECT COMMITTEES.

Mr. Toadvin, from a Select Committe, reported
favorably the following bills:

House bill entitled an Act to authorize Sarah J.
Holloway, of Wicomico county, to settle her accounts

 

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Proceedings of the Senate, 1892
Volume 400, Page 1081   View pdf image (33K)
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