HARRY W. NICE, GOVERNOR. 267

(c) The term "securities" includes any shares of stock,
warrants, bonds, debentures, notes or other obligations or in-
struments commonly known as securities issued, or guaran-
teed as to principal or interest or both, by any corporation,
public or private, or by any company, association or business
trust, or certificates of deposit for any of the same.

(d) The term "plan of reorganization" includes any plan
for the reorganization of any corporation, public or private, or
of any company, association or business trust, and any plan of
adjustment, readjustment, refunding, refinancing or recapital-
ization affecting any securities (as defined in the preceding
paragraph (c) of this sub-section), whether such plan be pro-
posed or submitted in or in connection with any proceedings
under the jurisdiction of any court or not.

(e) The term "depositary" includes any person, firm or cor-
poration receiving securities for deposit, exchange or distri-
bution under any reorganization agreement or plan of re-
organization, or stamping securities presented to it so as to
indicate the assent of any present or future holder or holders
thereof to any plan of reorganization affecting such securities
and/or that such securities have been absolutely or con-
ditionally made subject to any plan of reorganization.

(f) The term "deposited or exchanged", as applied to securi-
ties, shall include the presentation of securities to a depositary
for stamping so as to indicate the assent of any present or
future holder or holders thereof to any plan of reorganization
affecting such securities and/or that such securities have been
absolutely or conditionally made subject to any plan of re-
organization.

(2) Whenever any securities are deposited or exchanged, or
tendered for deposit or exchange by any fiduciary or fiduciaries
under any reorganization agreement or plan of reorganization,
any committee formulating, proposing and/or carrying out
any such plan or soliciting deposits or exchanges under any
such agreement or plan, any depositary with or through which
the deposit or exchange of any such securities may be made,
solicited, requested or permitted, and any person, firm or cor-
poration to whom or to which such securities are or are to be
delivered pursuant to any such agreement or plan, may accept,
receive, hold and ultimately dispose of any such securities in
accordance with the authorization or instructions of the
fiduciary or fiduciaries depositing or exchanging such securi-
ties or tendering the same for deposit or exchange under any
reorganization agreement or plan of reorganization, without
any obligation to inquire whether or not any such fiduciary is
authorized to make such deposit or exchange or is committing
a breach of his obligation as fiduciary in so doing; and no
such committee, depositary or ultimate recipient shall have