572

LAWS OF MARYLAND.

shall have been organized by the election of the neces-

When proceed
to business.

sary officers, and when the whole one hundred thou-
sand of the capital has been paid in, and not before,

the said corporation may proceed to do business and

exercise the powers conferred by this act.

SEC. 7. And be it enacted, That the said cor-

poration shall be and is hereby authorized to guaran-

tee and insure the fidelity of persons holding places or

Insure fidelity.

offices of trust or responsibility under any corporation

or individual, and may become security for the faith-

ful performance of any trust, duty, office, contract or

agreement.

SEC. 8. And be it enacted, That this act shall take

Effective.

effect from the date of its passage.

Approved April 23, 1884.

Chapter 436.

AN ACT to repeal and re-enact with amendments

section two hundred and eighty of article ninety-

three of the Code of Public General Laws of Mary-

land, title " Testamentary Law," as amended by

chapter fifty-one of the acts of eighteen hundred

and sixty-five, relating to sales by executors under

wills.

SECTION 1. Be it enacted by the General Assembly

of Maryland, That section two hundred and eighty of

article ninety-three of the Code of Public General

Repealed,

Laws of Maryland, title " Testamentary Law," as

amended and

amended by the act of the General Assembly of Mary-

re-enacted.

land, passed at the January session eighteen hundred

and sixty-five, chapter fifty-one, be and the same is

hereby repealed and re-enacted with amendments, so

as to read as follows :

SECTION 280. In all cases where an executor may be

authorized and directed to sell the real estate of a tes-

Executor to

tator, such executor may sell and convey the same,

sell.

and shall account therefor to the orphans' court of the

county where he obtained letters, in the same manner