178

LAWS OF MARYLAND

Ch. 33

OR PERSONAL PROPERTY;

(8)      SUBJECT TO § 3-605 OF THIS TITLE, BECOME
OWNER AND LESSOR OF PERSONAL PROPERTY;

(9)        SUBJECT TO § 5-503 OF THIS ARTICLE, BUY,
HOLD, LEASE, AND CONVEY REAL PROPERTY;

(10)      PLEDGE COLLATERAL TO SECURE DEPOSITS OF:

(I)      THE FEDERAL GOVERNMENT OR ITS
AGENCIES; OR

(II) ANY STATE OR ITS POLITICAL
SUBDIVISIONS;

(11)      PLEDGE SECURITIES TO SECURE THE MONEY OF AN
ESTATE ADMINISTERED UNDER THE FEDERAL BANKRUPTCY LAWS; AND

(12)       EXERCISE ALL OF THE POWERS USUAL IN
CARRYING ON A BANKING BUSINESS.

REVISOR'S NOTE: This subsection is new language that
combines the similar provisions of CA §§
6-116(6)(ii) through (8) and 6-137(4), (5), and
(13)(ii) through (15).

Item (6) of this subsection is derived from
present CA § 6-137(13)(ix)- Although present CA §
6-137 deals with the powers of a trust company,
this item is listed there as an example of
"powers usual in carrying on the business of
banking" and, in practice, is a power of State
banks as well.

In item (6) of this subsection, the term "debt
instruments", which is defined in § 3-101 of this
title, is substituted for the references to
"bonds", "obligations", and "securities".

Also in item (6) of this subsection, the present
cross reference to Art. 11, § 57(c) is deleted as
obsolete. See General Revisor's Note to article.

In item (8) of this subsection, present specifics
are deleted as unnecessary since they are but
repetitive of provisions appearing in the
referenced § 3—605 of this title.

Item (9) of this subsection is new language
derived from present CA § 6—137(5), which enables
trust companies to acquire real property. The
present specifics are deleted and the item
retained as a cross reference to § 5—503 of this
article, which governs the acquisition of real
property by banking institutions.