1040 LAWS OF MARYLAND. [CH. 546

and to follow immediately after Section 48 of Article 11
of Bagby's Annotated Code, 1924 Edition, title "Banks
and Trust Companies, " sub-title "Trust Companies. "

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 48 of Article 11 of Bagby's Anno-
tated Code of the Public General Laws of Maryland, 1924
Edition, title "Banks and Trust Companies, " sub-title
"Trust Companies, " be and the same is hereby repealed and
re-enacted with amendments to read as follows:

48. Any such Corporation whether incorporated under
this article or by special act, which shall hereafter be ap-
pointed Executor, Administrator, Guardian, Trustee, Re-
ceiver, Committee or Depository by the Order of any Court
shall be required to give bond for the faithful performance
of its duties in all cases where such bond is or may be
required of a natural person so appointed or acting, pro-
vided such bond shall be requested by any person in interest
or ordered by the Court. In all cases in which such
Trust Companies, whether incorporated under this Article
or by special act, and whether appointed by an order
of court or otherwise, shall be acting as Executor, Ad-
ministrator, Guardian, Trustee, Receiver, Committee, or
in any other fiduciary capacity, they shall be respon-
sible for losses of moneys or property received or held
by them in any such character in the same cases and
to the same extent as individuals so acting would be. Upon
the dissolution of any trust company by the Legislature,
Court or otherwise, or in case of its insolvency, all debts
or liabilities due or owing by said corporation in any of
said fiduciary capacities, shall be preferred in the dis-
tribution of the assets of such company to all debts or lia-
bilities of any -nature whatsoever, including salaries and
wages of employees and other preferred debts or liabilities.
The Court having jurisdiction may make orders respect-
ing such trusts, and require the corporation to render all
accounts which such court or officer might lawfully require
if such Executor, Administrator, Guardian, Trustee, Re-
ceiver, Committee or Depositary were a natural person.

SEC. 2. And be it further enacted, That a new section
be added to Article 11, Section 48, title "Banks and Trust
Companies, " sub-title "Trust Companies, " to be known as
Section 48A, and to follow immediately after Section 48 of
Article 11 of the Annotated Code of Maryland, 1924 Edi-