1090

LAWS OF MARYLAND.

visions of this Act, and a majority of the stockholders may at
any annual or general meeting pass by-laws, which shall be
binding upon the president, vice-president and directors; pro-
vided, also, that such by-laws shall not be contrary to any laws
of this State or the United States.

Eligible.

SEC. 4. And be it enacted, That no person shall be eligible
as an office or director of said corporation, as the case may be,
unless he be a stockholder therein.
SEC. 5. And be it enacted, That said corporation shall have

Power to
borrow,
receive or
deposit
money.

power to borrow money, receive money on deposit, to loan
money, or discount in accordance with the bank usage, taking
such security therefor, either real or personal, as the board of
directors of said bank may deem sufficient; may accept, hold
and execute, as fully as a natural person could do, trusts of
every description which may be committed to it by any person
or persons, or by any corporation, or by the appointment or
authority of any court of record whatsoever, and to accept the
office and appointment of executor, administrator or trustee, of
any kind and nature, whenever such office or appointment is
conferred or made by any such person or persons, or by any
orphans' court or other court, either in this State or any other
State, and in all cases it shall be lawful for such court to
appoint the said corporation, with its assent, as receiver, trustee,
administrator, assignee, guardian or committee, and the accounts
of said corporation, as such, 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 corporation for its care
and management of the trusts and estates aforesaid, in accord-
ance with the practice of the court so appointing, in the case
of natural persons when so appointed ; and the said corpora-
tion, as sucn receiver, trustee, administrator, executor, assignee,
guardian or committee, shall be subject to all lawful orders or
decrees made by said court, and all the capital stock of said
corporation as paid in shall be absolutely liable therefor, and
no other bond or security shall be required, unless the court
deems it necessary.
SEC. 6. And be it enacted, That said corporation is author-

Invest money
received in
trust, etc.

ized, and shall have discretion and power to invest at its
pleasure all moneys received in trust, on deposit or otherwise ;
that it is authorized to take, have, hold and enjoy, all such
estate, real, personal and mixed, that may be obtained with the
monies aforesaid, and also with any, every, and all funds that
may come into its possession in the course of its business deal-