472 LAWS OF MARYLAND. [CH. 268

cles of Association" occur in the provisions of this Article,
they shall be construed to include legislative charters and
Articles of Incorporation; provided, however, nothing in this
Article shall be construed to repeal, modify, or affect any
special right, privileges or powers conferred upon any trust
company heretofore created under any law of this State, by
their respective charters, if said companies were organized and
doing business prior to April the 8th, 1910, except that for
every branch opened after June 1st, 1920, by a trust company
it shall be compelled to add to its capital stock the amount or
amounts specified and pertaining to branches in Section 42 of
this" Article.

SEC. 6. And be it further enacted. That sub-section ninth,
of Section 46 of Article 11 of the Annotated Code of Mary-
land, title "Banks and Trust Companies," sub-title "Trust
Companies," as said sub-section was amended by Chapter 33
of the Acts of the General Assembly of Maryland of 1918, be,
and the same is, hereby repealed and re-enacted with amend-
ments, so as to read as follows:

46. Sub-section Ninth. To exercise, by its directors, duly
authorized officers or agents, all such powers as shall be usual
in carrying on the business of banking; by buying, discount-
ing and negotiating promissory notes, bonds, drafts, bills of
exchange, foreign and domestic, and other evidences of debt;
by receiving deposits of money upon which interest may be
paid; by buying and selling coin and bullion, and by buying
and selling exchange, foreign and domestic; to purchase, in-
vest in and sell stocks, bills of exchange, bonds and mortgages
and other securities; to accept for payment at a future date,
drafts or bills of exchange drawn upon it, having not more
than six months to run, which grow out of transactions involv-
ing the importation or exportation of goods, or which grow
out of transactions involving the domestic shipment of goods,
provided shipping documents conveying or securing title are
attached at the time of acceptance, or which are secured at the
time of acceptance, by a warehouse receipt or other such
document conveying or securing title covering readily market-
able staples; and when moneys or securities for moneys are
borrowed or received on deposit, or for investment, the bonds
or obligations of the company may be given therefor, but it
shall have no right to issue bills to circulate as money.