596

LAWS OF MARYLAND.

CHAP. 326

held on the date prescribed for the same, the said election
shall be held as soon as may be convenient thereafter.
SEC. 4. And be it enacted, That ten days' notice shall be

Election to be
held.

given by publication in two daily newspapers, one published
in the city of Baltimore and one in Baltimore county, of the
time and place of said annual election; and when a meeting
shall be held in pursuance of such notice, it shall be organ-
ized and its proceedings shall be conducted as may be pre-
scribed by the by-laws of the company.
SEC. 5. And be it enacted, That the directors shall have
power to declare such dividends of profits of the said com-

Dividends.

pany as they may deem proper; provided, that no dividend
shall be declared when the capital stock would be impaired
thereby.
SEC. 6. And be it enacted, That the president, vice-presi-

May enact and
adopt rules,
etc.

dent and 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
interest thereof.
SEC. 7. And be it enacted, That the said corporation be and
it is hereby authorized and empowered to accept and execute

Authorized to
accept and
execute
trusts, etc.

as fully as a natural person, trusts of any and every descrip-
tion which may be committed or transferred to it, with its
consent, by any person or persons whomsoever by last will
or otherwise, and by bodies corporate or public, upon such
terms as may be agreed upon by and between the said cor-
poration and said person, natural or corporate or by any
court in the State of Maryland, or by the courts of the
United States or any of the States or territories thereof, or
by any Orphans' Court of any State or territory of the
United States; and in all cases when application shall be
made to any court of this State for the appointment of any
receiver, trustee or assignee it shall and may be lawful for
such court to appoint the said corporation such receiver,
trustee or assignee, and the accounts of said corporation as
such receiver, trustee or assignee 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 corpo-
ration for its care and management of the trusts and estate
aforesaid in accordance with the practice of the court so