HERBERT R. O'CONOR, GOVERNOR. 681

letters of credit authorizing the holders thereof to draw
drafts upon it or its correspondents at sight or on time
not exceeding one year; 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.

Tenth. To be appointed and to accept the appointment
of executor or of trustee under the last will and testament,
or administrator, with or without the will annexed, of the
estate of any deceased person, and to be appointed to act
as the committee of the estate of lunatics, idiots, persons
of unsound mind and habitual drunkards.

Eleventh. To deposit securities for the purpose of
securing deposits of the United States Government and
its agencies, and the State of Maryland and counties, cities,
towns and other political sub-divisions of the State of
Maryland, or to secure the surety or sureties on bonds
furnished to secure such deposits, and to pledge securities
to secure the prompt repayment of deposits of money of
estates administered under the Bankruptcy Laws of the
United States.

SEC. 2. And be it further enacted, That this Act shall
take effect on June 1, 1939.

Approved May 3, 1939.

CHAPTER 308.
(Senate Bill 248)

AN ACT to repeal Section 48 of Article 11 of the An-
notated Code of Maryland (1935 Supplement) title
"Banks and Trust Companies", sub-title "Trust Com-
panies", and in lieu thereof and for the purpose of ex-
tending and clarifying the provisions thereof, to add
three new sections to said Article 11 of the Annotated
Code of Maryland, title "Banks and Trust Companies",
sub-title "General Regulations", said new sections to be
known as Sections 64D, 64E and 64F and to follow im-
mediately and consecutively after Section 64C of said
Article, said Section 64D providing that debts due and
owing in any fiduciary capacity therein enumerated by