878

LAWS OF MARYLAND.

CHAP. 609.

Authority to
accept and
execute
trusts, etc.

SEC. 8. And be it further enacted, That the said body cor-
porate be and it is hereby authorized to accept and execute
trust of any and every description which may be committed
and transferred with its consent to it 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, and
to accept the office and appointment of executor and adminis-
trator of any kind or nature, whenever such office or appoint-
ment is conferred or made by any person or persons, or by
any Orphans' Court, or any Court, either of this State or any
of the United States, and that in all cases when application
shall be made to any Court in the State of Maryland or
elsewhere for the appointment of any receiver, trustee,
administrator, executor, assignee, guardian or committee, it
may and shall be lawful for such Court, if it shall think
proper, to appoint said body corporate, with its assent, such
receiver, trustee, administrator, executor, assignee, guardian
or committee, and the accounts of said company as such
receiver, trustee, administrator, executor, assignee, guardian or
committee shall be regularly settled and adjusted before the
tribunal having jurisdiction, and upon such settlement and
adjustment all proper legal and customary charges, costs and
expenses shall be allowed to the said company for its care and
management of the trusts and estate aforesaid, and the said
company, as such receiver, trustee, administrator, executor,
assignee, guardian or committee, shall be subject to all orders
or decrees of the proper tribunal in the premises under the
laws of the State wherein such tribunal shall or may exercise
its jurisdiction.
SEC. 9. And be it further enacted, That whenever any

Capital stock
to be taken
as security.

Court shall appoint the said corporation a receiver, trustee,
assignee, executor or administrator, guardian or committee, or
shall order the deposit of money or other valuables of any kind
with said corporation, the capital stock of said corporation may
be taken and considered as the security required by law for
the faithful performance of any duty imposed upon it by the
orders or decree of such Court, unless the said Court shall
deem proper to require further security.

Board of
directors.

SEC. 10. And be it further enacted, That the board of
directors and managers of said body corporate shall consist of
not fewer than tive (5) and more than twenty-five (25) mem-
bers thereof.
SEC. 11. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 11, 1902.