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Session Laws, 1896 Session
Volume 475, Page 710   View pdf image (33K)
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710

LAWS OF MARYLAND.

by natural persons when acting in such fiduciary capacities ;
that it is authorized to take, have, hold and enjoy all such estates,
real, personal and mixed, as may be obtained with the moneys
aforesaid, and also with any, every and all other funds that may
come into its possession in course of its business dealings; and
the same may sell, grant, lease, mortgage and dispose of, in its
discretion and at its will and pleasure, and execute, acknowledge
and deliver all deeds and legal papers and any instruments con-
cerning the same; to deal in exchange, foreign and domestic,
and in every and all descriptions of properties, personal effects,
securities, mortgages, lands, certificates of indebtedness, stocks
of incorporated companies, notes, loans or bonds of the United
States, or of any city, county or municipality, or of any incor-
porated company or individual; provided, that no loan shall be
made directly or indirectly to any officer or employe of said
corporation; and for any violation of this provision the party
or parties making or consenting thereto directly or indirectly,
shall be liable to said corporation for the amount so loaned and
all expenses and losses which may result therefrom.

Misapplica-
tion of
funds by
employes.

SEC. 14. And be it further enacted, That any officer or employe
of said corporation who shall apply any of the deposits of any
kind of said corporation to his use or to the use of any person
or persons not entitled thereto, without the consent of the owner
of such deposits, shall be deemed guilty of embezzlement, and
upon conviction thereof, shall be punished by imprisonment in
the State prison for a term of not less than one nor more than
five years, and shall be responsible in any suit in law for all
injury, loss, expense or damage incurred by reason of his prose-
cution or in consequence of said act, either to said corporation
or to any party aggrieved, damaged or injured thereby.

Subject to
Act of 1899

SEC. 15. And be it enacted, That the said corporation shall
be subject at all times to the provisions of the Act of 1892,
chapters 109 and 279.

Right of
repeal.

SEC. 16. And be it enacted, That the General Assembly of
Maryland reserves the right to repeal, alter or annul this act at
its pleasure.

Effective.

SEC. 17. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 4, 1896.



 
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Session Laws, 1896 Session
Volume 475, Page 710   View pdf image (33K)
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