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Session Laws, 1910 Session
Volume 487, Page 1364   View pdf image (33K)
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1364 LAWS OF MARYLAND.

either of this State or any of the United States; and that in
all cases where application shall be made to any court in the
State of Maryland or elsewhere for the appointment of any
receiver, trustee, administrator, executor, assignee, guardian
or committee, it shall and may be lawful for such court, if it
shall think proper, to appoint said body corporate, with its
assent, such receiver, trustee, administrator, executor, assignee,
guardian or committee, and the accounts of said company as
such receiver, trustee, administrator, executor, assignee, guar-
dian or committee shall be regularly settled and adjusted be-
fore the tribunal having jurisdiction, and upon such settlement
and adjustment all proper, legal and customary charges, costs
and expenses shall be allowed to said company for its care
and management of the trusts and estate aforesaid; and the
said bank as such receiver, trustee, administrator, executor,
assignee, guardian or committee shall be subject to all orders
or decrees of the proper tribunal in the premises under the
laws of the State wherein such tribunal shall or may exercise its
jurisdiction; that whenever any court shall appoint the said
corporation a receiver, trustee or assignee, or shall order the
deposit of money or other valuables of any kind with said
corporation, the capital stock of said corporation shall be taken
and considered as the security required by law for the faithful
performance of any duty imposed upon it by orders or decrees
of such court, unless the said court shall deem proper to require
further security; and the said corporation shall be absolutely
liable in case of any default whatever; provided, however, that
said company shall be subject to the provisions of Chapter
109 of the Acts of the General Assembly of 1892, and any
supplements thereto and amendments thereof, and the liability
of the stockholders shall at all times be determined by the
laws of the State in force at the time the said liabilities may
attach.

SEC. 6. And be it further enacted, That the home office of
the said body corporate shall be located in Hampden, Baltimore
City, Maryland; provided, however, that said company shall
be subject to the provisions of Article 11 of the Public General
Laws of this State, title "Banks," also Article 23 of the Public
General Laws of this State, title "Corporations," and any
amendments thereof, and the liability of the stockholders
thereof shall at all times be determined by laws of the State
in force at the time the said liabilities may attach; and fur-
ther provided, that said company shall not be subject to Article
3, Section 25, of said Article 11.

SEC. 7. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved April 13, 1910.


 

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Session Laws, 1910 Session
Volume 487, Page 1364   View pdf image (33K)
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