MARVIN MANDEL, Governor                               227

DIRECTLY OR THROUGH A COMMITTEE OR OTHER AGENT, THE

REORGANIZATION, CONSOLIDATION, MERGER, DISSOLUTION OR

LIQUIDATION OF A CORPORATION OR OTHER BUSINESS
ENTERPRISES.

(C) EMPLOY AGENTS.

HE MAY EMPLOY FOR REASONABLE COMPENSATION AGENTS,
ATTORNEYS, AUDITORS, INVESTMENT ADVISORS OR OTHER PERSONS
WITH SPECIAL SKILLS, TO ADVISE OR ASSIST THE FIDUCIARY IN
THE PERFORMANCE OF HIS ADMINISTRATIVE DUTIES, BUT NO
ATTORNEYS' FEE IN AN AMOUNT EXCEEDING $50 SHALL BE PAID
IN A FIDICIARY ESTATE ADMINISTERED UNDER COURT
JURISDICTION UNLESS THE AMOUNT OF THE FEE HAS BEEN FIRST
APPROVED BY ORDER OF COURT.

(P) ENGAGE IN JUDICIAL PROCEEDINGS.

EXCEPT AS PROVIDED IN THE MARYLAND RULES, HE MAY
PROSECUTE, DEFEND, OR SUBMIT TO ARBITRATION ANY ACTIONS,
CLAIMS, OR PROCEEDINGS IN ANY JURISDICTION FOR THE
PROTECTION OF THE FIDUCIARY ESTATE,

(Q) ENGAGE IN PARTNERSHIP.

HE MAY CONTINUE AS OR BECOME A LIMITED PARTNER IN
ANY PARTNERSHIP.

(R) INCORPORATE.

HE MAY INCORPORATE ANY BUSINESS OR VENTURE WHICH
FORMS A PART OF THE FIDUCIARY ESTATE.

(S) EXERCISE OPTIONS.

HE MAY EXERCISE OPTIONS, RIGHTS AND PRIVILEGES
CONTAINED IN A LIFE INSURANCE POLICY, ANNUITY, OR
ENDOWMENT CONTRACT CONSTITUTING PROPERTY OF THE FIDUCIARY
ESTATE, INCLUDING THE RIGHT TO OBTAIN THE CASH SURRENDER
VALUE, CONVERT A POLICY TO ANOTHER TYPE OF POLICY, REVOKE
ANY MODE OF SETTLEMENT, AND PAY ANY PART OR ALL OF THE
PREMIUMS ON THE POLICY OR CONTRACT.

(T) PAY CLAIMS.
HE MAY PAY ANY VALID CLAIM.
(U) PAY MORTGAGE.

IF ANY ASSETS OF THE FIDUCIARY ESTATE ARE ENCUMBERED
BY MORTGAGE, PLEDGE, LIEN, OR OTHER SECURITY INTEREST, HE
MAY PAY THE ENCUMBRANCY OR ANY PART OF IT, RENEW, OR
EXTEND AN OBLIGATION SECURED BY THE ENCUMBRANCE, OR
CONVEY OR TRANSFER THE ASSETS TO THE CREDITOR IN