LLOYD LOWNDES, ESQUIRE, GOVERNOR.

stockholders to be selected by the body of stockholders, one of
whom shall be designated to act as judge, and the other two as
inspectors.

525

SEC. 5. And be it further enacted, That the directors shall
have power to declare such dividends of profits of the said cor-
poration as they may deem proper; provided, that no dividend
shall be declared when the capital stock would be impaired
thereby.

Dividends.

SEC. 6. And be it further enacted, That the directors of the
corporation hereby created shall have power to enact and adopt
such rules, regulations and by laws for the government and
management of the affairs of said corporation as they may deem
advantageous to the interests thereof, provided the same be not
contrary to law.

By-laws.

SEC. 7. And be it further enacted, That the said corpora-
tion be and is hereby authorized to accept and execute, as fully
as a natural person, trusts of any and every description which
may be committed or transferred to it, with its consent, by
any person or persons whomsoever, bodies corporate or public,
or by any court in the State of Maryland, or in any one of the
United States, or by the courts of the United States, and to
accept the office and appointment of executors or administra-
tors of any kind or nature, wherever such office or appoint-
ment is conferred or made by any person or persons or by any
Orphans' Court or other court, either of this State or any one
of the United States, and that in all cases where application
shall be made to any court of this State for the appointment
of any receiver, trustee, administrator, executor, assignee, guar-
dian of any minors or committee of a lunatic, it shall and
may be lawful for such court to appoint the said corporation,
with its assent, such receiver, trustee, administrator, assignee,
guardian or committee, and the accounts of said corporation
as such receiver, trustee, administrator, executor, assignee,
guardian or committee, shall be regularly settled before the
court making such appointment, and upon such settlement and
adjustment, all proper, legal and customary charges, costs and
expenses shall be allowed to said corporation for its care and
management of the trusts and estates aforesaid, in accordance
with the practice of the court so appointing in the case of
natural persons when so appointed; and the said corporation,
as such receiver, trustee, administrator, executor, assignee,
guardian or committee, shall be subject to all lawful orders or
decrees made by the said court.

May execute
trusts, etc.