WM. T. HAMILTON, ESQUIRE, GOVERNOR.

783

and in every such case the capital stock of the said

company shall be taken and considered as sufficient

security therefor, but in such cases the officers and

affairs of said company shall be subject to an exam-

ination, and its property and effects liable as afore-

said; and it shall be lawful for said company to

What is law-

stipulate and provide for indemnity from the parties

ful.

aforesaid for whom it shall so become responsible,

and to enforce any bond, contract, agreement, plejge

or other security made or given for that purpose.

SEC. 10. And be it enacted That said company

shall have power to guarantee, endorse and secure

the payments and punctual performance and collec-

tion of notes, debts, bills of exchange, contracts,

bonds, accounts, claims, rents, annuities, mortgages,

choses in action, evidences of debt, certificates of

Guarantee

property or value, checks and the titles to property,

and endorse.

indebtedness of companies, partnerships, loans of

States, cities, counties, municipalities, et cetera, on

such terms or commissions as may be agreed upon

or established by said company and the parties

dealing therewith.

SEC. 20. And be it enacted, That said company

may receive upon storage, deposit or otherwise,

merchandise, specie, plate, stocks, promissory notes,

certificates and evidences of debts, contracts, and all

other personal properties whatsoever; take charge

and custody of real and personal estates and securi-

ties, and advance money thereupon on such terms

What to re-
ceive.

as may be established or approved by said company;

that in all cases in which public officers or munic-

ipal or private corporations are authorized to deposit

money, stocks, bonds or evidences of debt, such de-

posits by such officers or corporations may be made

with said company.

SEC. 21. And be it enacted, That it shall be lawful

for said company to sell at public auction or private

sale, in its discretion, all property of what kind

soever mentioned or specified in any contract or

agreement between the company and other parties,

Sell property.

after ten days shall have elapsed from the time of

maturity of any obligation under said contract or

agreement, or immedately upon the discovery of any

fraud, misrepresentation or concealment in regard to

the ownership, or otherwise, which jeopardizes the

rights of the company or its security, and to reim-