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Session Laws, 1962
Volume 651, Page 120   View pdf image (33K)
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120 LAWS OF MARYLAND [CH. 36

175. No title shall pass to a trustee to whom any property has
been conveyed for the benefit of creditors


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or to
be sold for any purpose, except the sale of land for the benefit of
either the grantor of the trust instrument or a person paying a
valuable consideration for the deed of trust and entitled to the pro-
ceeds of sale, until such trustee shall file a bond as required by the
Maryland Rules


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PROVIDED, HOWEVER, WHERE PROP-
ERTY IS CONVEYED TO ANY TRUSTEE OR TRUSTEES IN
THE NATURE OF A MORTGAGE AS SECURITY FOR A DEBT
OR TO BE SOLD UPON A CONTINGENCY, IT SHALL NOT BE
NECESSARY FOR SUCH TRUSTEE OR TRUSTEES TO FILE
A BOND UNTIL SUCH CONTINGENCY HAPPENS OR A SALE
IS ABOUT TO BE MADE. A sale made by any such trustee who
has not filed such a bond shall not be valid and shall not pass title to
the property or estate sold.

184. The discharge of a fiduciary who has resigned his office pur-
suant to the Maryland Rules shall not release the fiduciary, or his
sureties, if any, from liability to any of the cestui que trustent, or
other persons, for acts, defaults or omissions of duty occurring while
the fiduciary was in office.

SEC. 17. And be it further 'enacted, That Section 113 of Article
21 of the Code, title "Conveyancing", sub-title "Land Installment Con-
tracts" be and it is hereby repealed and that a new Section 113 be
enacted in lieu thereof, to stand in the place of the Section repealed
and to read as follows:

113. // the vendee, on or before the date designated in a notice
from the vendor of intention to terminate a land installment contract
due to the vendee's default, complies with the terms and conditions
in respect to which the default has occurred, the contract shall con-
tinue in full force and effect, notwithstanding any contrary provision
or provisions in the contract.

SEC. 18. And be it further enacted, That Section 141 of Article 23
of the Code, title "Corporations", sub-title "III. Particular Classes of
Corporations", sub-heading "Companies for the Erection of Bridges
or Construction of Canals"; Sections 193, 196 and 199 of Article 23
of the Code, title "Corporations", sub-title "III. Particular Classes of
Corporations"; sub-heading "Railroad Companies"; Section 333 of
Article 23 of the Code, title "Corporations", sub-title "III. Particular
Classes of Corporations", sub-heading "Water Companies"; Sections
334, 339 and 340 of Article 23 of the Code, title "Corporations",
sub-title "III. Particular Classes of Corporations", sub-heading
Condemnation of Property by Corporations" be and they are hereby
repealed and re-enacted, with amendments, to read as follows:

141.

The corporation may agree with the owners for the lands or
property of any kind whatsoever, or interest therein, necessary for
the abutments of the bridge and the lands necessary for the dig-
ging, constructing and maintaining of a canal, and for roads and
ways thereto, and for earth or stone required in the construction of
said bridge or of said canal and of said ways, approaches, terminals,
docks and wharves; and the rights acquired by agreement shall be


 

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Session Laws, 1962
Volume 651, Page 120   View pdf image (33K)
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