2038

LAWS OF MARYLAND

[Ch. 311

stead of [said] THE banking institution so liquidated,
dissolved or reorganized.

87.

Any banking institution, AS defined in § 63 of this
article [, whether] AND incorporated under [this article
or by special act,] THE LAWS OF THIS STATE, which [shall]
IS hereafter [be] appointed executor, administrator,
guardian, or depositary by the order of an orphans' court
shall be required to give bond for the faithful
performance of its duties in all cases where such bond is
or may be required of a natural person so appointed or
acting, provided [such ] THE bond [shall be] IS requested
by any person in interest or [shall be] IS ordered by the
court.

88.

[In all cases in which] IF any banking institution,
as defined in § 63 of this article [, whether] AND
incorporated under [this article or by special act,] THE
LAMS OF THIS STATE, [shall be] IS acting as executor,
administrator, guardian, trustee, receiver, OR committee
or in any other fiduciary capacity, it shall be
responsible for losses of [monies] MONEY or property
received or held by it in [any such] THAT fiduciary
capacity, in the same cases and to the same extent as
individuals so acting would be.

SECTION 8. AND BE IT FURTHER ENACTED, That Sections 160,
161A, 161D(a) and (b) , 161G(c), 161P(f) and (g) , and
161KK of Article 23 of the Annotated Code of Maryland
(1968 Replacement Volume and 1974 Supplement) be and they
are hereby repealed and re—enacted, with amendments, to
read as follows:

160.

[It shall be lawful for any] AN association [formed
under this subtitle to] MAY forego the payment of
dividends from time to time on [their] ITS "Christmas"
[and/] or "vacation club" funds in account with [them]
IT, but [said association or other association formed as
above—mentioned may] pay dividends on other funds in
account with [them] IT during the same dividend period.

161A.

It is the declared policy of [this] THE State that:

(a) The savings and loan business, otherwise known
as the building, savings and loan or homestead business,