EDWIN WARFIELD, ESQ., GOVERNOR.

981

municipal or private corporations may be authorized to
deposit money, stock, bonds or evidences of indebted-
ness, such deposits by such officers or corporations may
be made with said corporation; and for the complete preser-
vation of all articles or things so deposited for safe-keeping,
the said corporation may construct, erect, purchase or lease
such suitable buildings, and all other means which may be
or become necessary; and to maintain and let for hire vaults,
safes and like receptacles.

SEC. 11. And be it enacted, That whenever any court shall

CHAP. 500

appoint the said corporation a receiver, trustee or assignee,
or shall order the deposit of money or valuables of any
kind with the said corporation, the capital stock of the said
corporation shall be taken and considered as the security
required by law for the faithful performance of any duty
imposed upon it, by the orders or decrees of such court,
unless the said court shall deem it proper to require further
security; and the said corporation shall be absolutely liable
in the case of any default whatever; such court may from
time to time, and whenever deemed advisable by such court,
appoint suitable persons to investigate the affairs and man-
agement of said corporation, who shall report to said court
the manner in which funds so held as receiver, trustee or
assignee are invested or held, and the expenses of such
investigation shall be borne by said corporation; and such
court may, if it deems necessary, examine the officers of
said corporation under oath or affirmation as to such invest-
ment.

SEC. 12. And be it enacted, That in case of the dissolu-

Capital stock
may be
taken as
security.

tion of the said corporation, the debts due from the corpo-
ration as receiver, trustee or assignee, or depository of funds,
under order of any court or courts, shall be preferred, in the
distribution of the assets of the said corporation; and the
stockholders shall be liable according to the provisions of
the law of this State.

SEC. 13. And be it enacted, That the said corporation shall

Preferred
debts.

have, power to guarantee, endorse and secure the payment
and collection of notes, debts, bills of exchange, contracts,
bonds, mortgages, evidences of debt, certificates of property
or value, checks, and the titles to property, real or personal ;
indebtedness of companies, partnerships, loans of States,

Authority to
secure the
payment and
collection of
notes, etc.