HERBERT R. O'CONOR, GOVERNOR. 903

follow immediately after Section 279 of Article 16 of the
Annotated Code of. the Public General Laws of Maryland
(1939 Edition), title "Chancery, " sub-title "Trustee, " be
and the same is hereby added to said Article 16 to read
as follows:

279A. (a) A fiduciary, as herein defined, may in its
discretion and in the absence of a contrary provision in
the trust instrument under which it acts, cause any stocks,
bonds, or other corporate securities as herein defined, now
or hereafter held or acquired by such fiduciary, to be reg-
istered in the name of a nominee, which nominee may be
either an individual or a partnership; provided, however,
that as to any estate which is or shall be administered
under the jurisdiction of a Court including any Orphans'
Court (which shall include estates which are or shall be
administered by trustees, committees, guardians, execu-
tors, or administrators) the registration of stocks, bonds,
or other corporate securities in the name of a nominee
may be made, only by order of such Court; and such Court
may pass an order authorizing the fiduciary so to register
in the name of a nominee any or all of the stocks, bonds,
or other corporate securities then held or thereafter to be
held by the fiduciary.

(b) As to any stocks, bonds, or other corporate securi-
ties so registered by a fiduciary in the name of a nominee:

(1) the fiduciary shall show the same on its records;

(2) the fiduciary shall see that such nominee shall
not have possession or control of the same except
under the supervision of such fiduciary, and
where there is more than one fiduciary, this duty
shall apply only to the fiduciary having custody
of the same;

(3) the corporation whose stocks, bonds, or other
securities are so registered, its transfer agent or
registrar, may, without responsibility or inves-
tigation, treat such nominee as the actual owner
thereof; and

(4) the fiduciary shall be responsible for any loss
resulting from any act or default of such nominee
or nominees

(c) For the purpose of this Section the term "Fidu-
ciary" shall apply only to a corporate fiduciary acting
alone or to co-fiduciaries one of which is a corporate fidu-
ciary, and shall include such fiduciaries named in or act-
ing under a deed, will, declaration of trust, or other instru-
ment creating or evidencing a trust or acting as trustee,
committee, or guardian appointed by any Court or as