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kind with said company, the capital stock as paid in shall be
taken and considered as the security required by law for the
faithful performance of its duties; provided, the said Court
shall not deem it necessary to require further security, and
shall be absolutely liable in case of any default whatever ;
the Court, if it deem necessary, may from time to time appoint
suitable persons to investigate the affairs and management of
said company, who shall report to such Court the manner in
which said money or valuables are kept or invested, and the
security afforded to those by or for whom its engagements are
held, and the expenses of such investigation shall be defrayed
by said company ; or the Court may, if it deem necessary,
examine the officers of said company under oath or affirmation
as to the security aforesaid.
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CHAP. 428.
Capital stock
tafcen as
sec urity, etc.
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SEC. 8. And be it further enacted, That said company
shall have power to act as the fiscal or transfer agent, or
depositary of any State, municipality, body politic or corpo-
rate, and in such capacity to receive and disburse money, and
transfer, register and countersign certificates of stock, bonds
or other evidences of indebtedness, and to receive and manage
any sinking fund of any corporation on such terms as may
be agreed upon.
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Power to act
as fiscal or
transfer
agent.
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SEC. 9. And be it further enacted, That said company
shall have the right to receive money on deposit, evidence of
debt for collection, for discount or otherwise, chattels, stocks,
bonds and other personal property, from any person or public
or private corporation, and all proper writings on storage, or
as collateral security, upon such terms as may be agreed upon
or established by said company; to receive money in trust, and to
accumulate the same at such rate of interest as may be obtained
or agreed upon, or to allow such interest as may be agreed upon,
not exceeding the legal rate ; to deal in exchange, foreign and
domestic, and in every and all description of properties, per-
sonal effects, securities, mortgages, lands, certificates of indebt-
edness, stocks of incorporated companies, notes, warehouse
receipts, bills of lading, loans or bonds of the United States,
or of any city, county or municipality, or of any incorporated
company, or of any individual ; to loan money upon real estate
and collateral security, and execute and issue bonds or mort-
gages or debenture bonds, payable at a future date, upon real
or personal estate in the State of Maryland or elsewhere,
pledging its mortgages on real estate and other securities as
security therefor, and shall have the right to purchase and
hold, bargain and sell, or to guarantee, endorse and secure the
payment, punctual performance and collection of promissory
notes, debts, due bills, bills of exchange, checks, contracts,
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Authority to
receive
money on
deposit, etc.
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