1080

LAWS OF MARYLAND.

Capital stock
taken as
security.

SEC. 12. And be it further enacted, That when any court
shall appoint the said company as receiver, trustee, administra-
tor, executor, assignee, guardian or committee, or shall order
the deposit of money or other valuables of any kind with said
company, the capital stock as paid in shall be taken and con-
sidered as the security required bylaw for the faithful perform-
ance of their 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 such investments
are made and the security afforded to those by or from whom
its engagements are held, and the expense of such investigation
shall be defrayed by said company; or the court may, if deemed
necessary, examine the officers of said company, under oath or
affirmation, as to the security aforesaid.

Bonds, etc.,
to be de-
posited.

SEC. 13. And be it further enacted, That any executor,
administrator, guardian or other trustee, or public officer having
the control of any bonds, stock, securities, moneys, or other
valuables belonging to others, shall be and is hereby authorized
to deposit the same for safe keeping with said company.

Authority
given.

SEC. 14. And be it further enacted, That the said corpora-
tion is authorized to take, have, hold and enjoy all such estates,
real, personal and mixed, as may be obtained by the investment
of their capital stock, and all other moneys or funds that may
come into their possession in the course of their dealings and
business and the same to sell, grant, mortgage, lease and dis-
pose of at pleasure, and to execute, acknowledge and deliver
all deeds and other instruments of writing concerning the same.
SEC. 15. And be it further enacted, That the president and

Rules to be
adopted.

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 corpora-
tion as they may deem advantageous to the interests thereof,
provided the same be not contrary to the law of the land.

Bight
reserved.

SEC. 16. And be it further enacted, That the General
Assembly reserves the right to repeal, alter or amend this Act
at its pleasure.

Effective.

SEC. 17. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 9, 1898.