1786

LAWS OF MARYLAND

[Ch. 311

THE BUSINESS OF BANKING BY:

(I)    PURCHASING, DISCOUNTING, AND NEGOTIATING
FOREIGN AND DOMESTIC PROMISSORY NOTES, BONDS, DRAFTS, AND
OTHER EVIDENCES OF DEBT;

(II)   RECEIVING DEPOSITS OF MONEY ON WHICH
INTEREST MAY BE PAID;

(III)     PURCHASING AND SELLING COIN AND
BULLION;

(IV)    PURCHASING AND SELLING FOREIGN AND
DOMESTIC EXCHANGE;

(V)    PURCHASING, INVESTING IN, AND SELLING
STOCK, BILLS OF EXCHANGE, BONDS, MORTGAGES, AND OTHER
SECURITIES;

(VI)   SUBJECT TO THE PROVISIONS OF ARTICLE 11,
§57(A), ACCEPTING DRAFTS DRAWN ON THE TRUST COMPANY;

(VII)    ISSUING OF LETTERS OF CREDIT WHICH
AUTHORIZE THE HOLDER TO DRAW DRAFTS ON THE TRUST COMPANY
OR ITS CORRESPONDENTS AT SIGHT OR ON TIME NOT EXCEEDING
ONE YEAR;

(VIII)  SUBJECT TO THE PROVISIONS OF     ARTICLE
11, §57(B), BECOMING OWNER AND LESSOR OF PERSONAL
PROPERTY ACQUIRED ON THE SPECIFIC REQUEST OF   AND   FOR THE
USE OF A CUSTOMER;

(IX)   SUBJECT TO THE PROVISIONS OF ARTICLE 11,
§57(C), ISSUING ITS BONDS OR OBLIGATIONS FOR MONEY OR
SECURITIES FOR MONEY WHICH ARE BORROWED OR RECEIVED ON
DEPOSIT OR FOR INVESTMENT;

(14)   DEPOSIT SECURITIES TO SECURE:

(I)    DEPOSITS OF THE FEDERAL GOVERNMENT AND
ITS AGENCIES, THE STATE, ITS UNITS, INCLUDING THE STATE
TREASURER AND STATE COMPTROLLER, AND ITS POLITICAL
SUBDIVISIONS; OR

(II)   THE SURETY ON BONDS PROVIDED TO SECURE
THESE DEPOSITS; AND

(15)    PLEDGE SECURITIES TO SECURE PROMPT REPAYMENT
OF DEPOSITS OF AN ESTATE ADMINISTERED UNDER THE FEDERAL
BANKRUPTCY LAWS.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §57,
The items are renumbered and separated into