LLOYD LOWNDES, ESQUIRE, GOVERNOR.

1186

SEC. 10. And be it enacted, That when any court shall
appoint said company as receiver, trustee, administrator, exec-
utor, assignee, guardian or committee, or shall order the deposit
of money or other valuables of any kind with said company,
or whenever said company shall act in any such capacity, the
capital stock as paid in shall be taken and considered as the secur-
ity required by law for the faithful performance of their duties;
provided, the said court shajl not deem it necessary to require
further security, and shall be absolutely liable in case of any
default whatever ; the court, if it deem it 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 engage-
ments are held, and the expense of such investigation shall be
defrayed by said company ; or the court may, if deemed neces-
sary, examine the officers of said company, under oath or
affirmation, as to the security aforesaid.

Capital stock
taken as
security.

SEC. 11. And be it enacted, That any executor, administra-
tor, guardian or other trustee, or public officer having the con-
trol of any bonds, stocks, securities, moneys or other valuables
belonging to others, shall be and is hereby authorized to
deposit the same for safe keeping with said company.
SEC. 12. And be it enacted, That the said corporation is

Authority
given.

authorized to take, have, hold and enjoy all such estates, real,
personal and mixed, as may be obtained by the investment of
their stock, and all other moneys and funds that may come
into its possession in the course of their dealings and business,
and the same to sell, grant, mortgage, lease and dispose of at
pleasure, and to execute, acknowledge and deliver all deeds
and other instruments of writing concerning the same.
SEC. 13. And be it further enacted, That the said corporation

Authority
given.

shall have power to receive and hold on deposit and in trust, and
as security, "estates, real, personal and mixed, including money,
notes, bonds and obligations of States, companies, corporations
and individuals, and the same to purchase, collect and adjust,
settle, sell and dispose of, and upon such terms as may be
agreed upon between it and the parties contracting with, and
may pay interest on all deposits of money which it may receive
from individuals, corporations or otherwise.
SEC. 14. And be it further enacted, That the said corpora-

Power to
receive and
hold on
deposit.

tion shall be and is hereby authorized and empowered to
receive and keep on deposit all such valuables as gold, silver or
paper money, bullion, precious metals, jewels, plate, certificates
75

Receive and
keep on
deposit
valuables.