1794.

LAWS of MARYLAND.

CHAP.
XLII.

Take bonds
in his own
name, &c.

III. And, in order to prevent any delay that might be occafioned by means of
the provifions aforefaid in the fettlement of the final accounts of the faid admi-
niftrator upon the eftates aforefaid, Be it enacted, That it fhall and may be law-
ful for the faid William Kilty to take the bonds upon the fales of the faid eftates
in his own name, as guardian to the faid children, and thereupon the faid bonds
fhall be confidered to be held by him as guardian, and not as adminiftrator.

Inveft the
overplus, &c.

IV. And, whereas it appears that there is a confiderable fum of ready money
and bonds belonging to the faid eftates, Be it enacted, That the faid William
Kilty fhall be and he is hereby authorifed, empowered, required and directed, as
guardian to the faid children, without any unneceffary delay, to inveft the over-
plus of the faid fum of ready money, and of the monies which he fhall from
time to time receive upon the debts due to the faid eftates, beyond what he fhall
be under the neceffity of applying to the payment of legal claims againft the
eftates, or of retaining in his hands for that purpofe, and alfo all fuch fums of
money as he fhall from time to time receive upon the bonds to be taken as afore-
faid upon the fales of the faid perfonal eftates, either in bank ftock, funded debt
of the United States, or to loan the fame upon good and fufficient landed fecuri-
ty upon mortgage and bond, as to the faid guardian fhall appear moft ad-
vantageous to the faid infants; and fuch inveftment or loan fhall be made in the
name of the faid William Kilty, as guardian to the faid children, and for their
life, and in cafe of a loan, the intereft fhall be required to be annually paid, on
condition of forfeiting the credit, and the credit given fhall be fuch as to make
the portions of the feveral children payable at their refpective terms of coming to
age, or as much fooner as the faid guardian fhall think proper; and when fuch
inveftments or loan fhall be made as above directed, the fame fhall oe confidered,
and is hereby declared to be, the property and eftate of the faid wards, feverally,
fubject neverthelefs to any difpofal or alteration, and reinveftment or loan, by the
faid guardian, under the reftrictions and directions aforefaid, for the benefit of
the faid wards; and in cafe of the death of the faid William Kilty, the fame
fhall not be confidered as a part of his perfonal eftate, but as the property of the
faid feveral wards, nor fhall his executor or adminiftrator have any further power
over the fame, than to make a transfer or affignment thereof to the faid feveral
wards, their refpeciive reprefentatives, or future guardian or guardians, which
transfer or alignment it fhall be the duty of fuch executor or adminiftrator to
make without delay.

And pay off
fhares, &c.

V. And be it enacted, That the faid guardian fhall be and he is hereby au-
thorifed and empowered to pay off the diftributive fhares of the faid wards re-
fpectively, to them or their legal reprefentatives, or any fubfequent guardian, by
transfers of the faid bank ftock or funded debt of the United States, or affign-
ments of the faid mortgages and bonds, or in the bonds to be taken as aforefaid
upon the fales of the faid eftates, obferving however in fuch payments to give to
each of the faid wards his or her due proportion or mare, as near as it can be
done, in each of the feveral inveftments aforefaid, and fuch payments, fo made,
fhall be a full exoneration and difcharge to the faid guardian from all claims by
the faid wards for their refpective diftributive fhares; provided however, that fuch
payments fhall be made at the fame rate or price for fuch bank ftock, or funded
debt of the United States, as the inveftments were made; and provided alfo, that
if the faid William Kilty be guilty of unreafonable and improper delay or negli-
gence in collecting the money due upon bonds paft upon fales of the faid perfonal
eftates as aforefaid, he fhall not have the power of paying off the diftributive
fhares of his refpeclive wards in fuch bonds, without their confent to receive the
fame in payment.

To fettle an-

nually, &c.

VI. And be it enacted, That nothing in this act fhall be conftrued to releafe
the faid guardian from the obligation of fettling annual accounts of the faid or-
phans eftates with the orphans court as now required by law, and he is hereby
required and directed, in fuch annual accounts to render an account of fuch fales,
inveftments and loans, and any alterations thereof, as the fame fhall from time
to time be made, and of all profits in any manner actually made by him thereon.

VII. And