232                                              LAWS OF MARYLAND                             [Ch. 11

OR OTHER OBLIGATIONS ARE SECURED BY A PLEDGE OF ANNUAL
CONTRIBUTIONS TO BE PAID BY THE UNITED STATES OR ANY
AGENCY OF THE UNITED STATES;

(7) OBLIGATIONS ISSUED OR GUARANTEED BY THE
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT.

(B) EXCHANGE OF LAWFUL INVESTMENTS.

ANY PERSON HOLDING A MORTGAGE OR OTHER LIEN ON
PROPERTY MAY EXCHANGE IT, PRIOR OR SUBSEQUENT TO
MATURITY, FOR ANY OTHER LAWFUL INVESTMENT.

(C)   LIABILITY FOR LACK OF REASONABLE CARE.

THIS SECTION SHALL NOT BE CONSTRUED AS RELIEVING ANY
PERSON FROM ANY DUTY OF EXERCISING REASONABLE CARE IN
SELECTING SECURITIES.

(D)   PRIORITY OF THIS SECTION.

NO GENERAL, LOCAL, OR SPECIAL LAW WHICH IS
INCONSISTENT WITH THIS SECTION SHALL HAVE ANY EFFECT.

(E)   OTHER INVESTMENTS.

THIS SECTION SHALL NOT BE CONSTRUED TO MAKE UNLAWFUL
ANY INVESTMENT NOT LISTED IN THIS SECTION.

REVISOR'S NOTE: This section is a synthesis of §§1,
3, 4, and 5 of Art. 49A. Subsection (e) has
been added to clarify the intent of the
section.

15-107. SURVIVAL OF POWER WHEN SIGHT GIVEN ONE OR MORE
FIDUCIARIES.

WHENEVER BY WILL, DEED, OR OTHER INSTRUMENT
[[SUBSEQUENTLY EXECUTED]], A POWER TO SELL, MORTGAGE,
LEASE OR OTHERWISE DISPOSE OF OR DEAL WITH PROPERTY SHALL
BE GIVEN TO ANY ONE OR MORE FIDUCIARIES, THE POWER,
WHETHER DISCRETIONARY OR OTHERWISE, SHALL BE CONSTRUED TO
BE APPURTENANT TO THE FIDUCIARY OFFICE AND SHALL PASS TO
AND BE EXERCISABLE BY ANY SURVIVING OR SUCCESSOR
FIDUCIARY, UNLESS AN INTENTION TO THE CONTRARY IS
EXPRESSLY DECLARED IN THE WILL, DEED, OR OTHER
INSTRUMENT.

REVISOR'S NOTE: This section presently appears as
Art. 16, §192. It is placed in this title
because of its application to the power of a
fiduciary. The only changes are in language
and style.