JOHN WALTER SMITH, ESQ., GOVERNOR.

841

leasehold or chattel property, and every evidence of debt, to
advance money upon the security thereof by receiving and hold-
ing the same on such terms as may be agreed upon or established
by the said company, or of accepting mortgages or other liens
thereon, and generally to deal in every and all descriptions of
property or properties, personal effects, securities, mortgages,
land, certificates of indebtedness, stock of incorporated com-
panies, loans on bonds of the United States, or of any State,
city; county or municipality, or of any incorporated company,
copartnership, joint stock company or individual, upon such
terms as may be agreed upon or established by said company.

CHAP. 585.

SEC. 4. And be it further enacted, That the said body corpo-
rate shall have the right to guarantee the fidelity of any person
or persons, firm or firms, joint stock company or joint stock
companies, corporation or corporations, occupying positions of
trust or responsibility and to insure the performance of any law-
ful undertaking whatsoever upon such terms as may be agreed
upon or established by said company; and the capital stock of
said company and all of its property and estate shall be taken
and considered as the sole security required by law for the
faithful performance of the duties so undertaken, and shall be
absolutely liable in case of any default whatsoever; and the
said corporation is further authorized to become sole security
in all cases where by law one, two or more securities are
required, and it shall and may be lawful for any Court,
register, clerk or other officer of any Court to approve the
bond or undertaking of said company as sole security in all
such cases; hut in such cases the officers and affairs of the said
company may be subject to examination at any time by such
Court, or by the officers or agents thereof, who may be by such
Court directed to make such examination.

Authority to
insure the
fidelity
of persons
holding place
of trust, etc.

SEC. 5. And be it further enacted, That said body corporate
shall have the right to guarantee the security, integrity and
income of investments in mortgages upon real or leasehold
property, or chattel interests in ground rent annuities, in stocks
and bonds of any State, city, county, municipality or corpora-
tion or joint stock company or copartnership; to guarantee the
validity of title to real, leasehold or chattel property, and to
guarantee the payment of credit, or any part thereof, given or
extended, or to be given or extended, by or to any person or
persons, firm or firms, copartnership or copartnerships, cor-
poration or corporations, joint stock company or joint stock
companies.

SEC. 6. And be it further enacted, That the said body
corporate shall have the right to invest, upon such terms as
may be agreed upon or established by said company, any

Authority to
guarantee
the security
and income
of invest-
ments
in mortgages,
etc.