MARVIN MANDEL, Governor

1785

6-137. POWERS IN GENERAL.

A TRUST COMPANY HAS THE POWER TO:

(1)   ACT AS THE AGENT OF ANY FOREIGN OR MARYLAND
CORPORATION FOR ANY LAWFUL PURPOSE;

(2)    ACT AS THE FISCAL OR TRANSFER AGENT OF ANY
STATE, STATE POLITICAL SUBDIVISION, OR CORPORATION;

(3)   RECEIVE DEPOSITS OF MONEY, SECURITIES, AND
OTHER PERSONAL PROPERTY FROM ANY PERSON;

(4)    [[LOAN]] LEND MONEY ON [[REAL OR]] PERSONAL
SECURITY OR REAL OR PERSONAL PROPERTY;

(5)   PURCHASE, HOLD, LEASE, AND CONVEY ANY REAL
PROPERTY WHICH IS:

(I)     NECESSARY FOR TRANSACTION OF ITS
BUSINESS;

(II)     ACQUIRED AS WHOLE OR PARTIAL
SATISFACTION OF A DEBT WHICH UNDER ANY SALE, JUDGMENT, OR
MORTGAGE, IS OWED TO THE TRUST COMPANY; OR

(III)   ACQUIRED IN WHOLE OR PARTIAL SETTLEMENT
OF A DEBT WHICH ANY DEBTOR OWES TO THE TRUST COMPANY;

(6)    ACCEPT AND EXECUTE ANY TRUST AND POWERS WHICH
ARE CONFERRED ON OR ENTRUSTED TO IT IN ANY MANNER,
INCLUDING GRANT, ASSIGNMENT, TRANSFER, DEVISE, OR BEQUEST
BY ANY PERSON OR BY ORDER OF A COURT OF THE STATE;

(7)   ACCEPT AND HOLD TRUST PROPERTY;

(8)    ACT AS TRUSTEE UNDER A MORTGAGE OR BOND
ISSUANCE OF A POLITICAL SUBDIVISION OR CORPORATION;

(9)   ACT AS GUARDIAN, RECEIVER, OR     TRUSTEE OF THE
ESTATE OF ANY PERSON UNDER ORDER OR   APPOINTMENT OF A
COURT AND AS DEPOSITARY OF MONEY PAID TO THE COURT FOR
BENEFIT OF THE PERSON;

(10)   ACT AS EXECUTOR OR TRUSTEE UNDER A WILL;

(11)    ACT AS ADMINISTRATOR OF AN ESTATE OF ANY
PERSON, WITH OR WITHOUT ANY ANNEXED WILL;

(12)   ACT AS A COMMITTEE OF THE ESTATE OF ANY
LUNATIC, IDIOT, PERSON OF UNSOUND MIND, OR HABITUAL
DRUNKARD;

(13) EXERCISE ALL THE POWERS USUAL IN CARRYING ON