HARRY HUGHES, Governor

179

Item (10) of this subsection is revised to
conform to the revision of similar provisions in
§ 4—206(b)(2) of this article, as to savings
banks pledging collateral for public funds.

Item (12) of this subsection combines the
introductory clauses of present CA §§ 6—116(6)
and 6-137 (13) and is restated as an independent
general power. It presently is worded as an
introduction to what are now items of this
subsection — "{e}xercise all the powers usual in
carrying on the business of banking by...".
This wording could be read as being limited by
the specific examples; as such, however, the
clause would be superfluous. The Commission to
Revise the Annotated Code believes that this
revision, as items of this subsection, accurately
reflects the original intent of the General
Assembly.

The only other changes are in style.

The terms "commercial bank" and "real property"
are defined in § 1—101 of this article.

See also § 5—504 of this article, which provides
for certain other activities permitted under
federal law.

3-207. ADDITIONAL POWERS OF TRUST COMPANY.

IN ADDITION TO THE POWERS SET FORTH ELSEWHERE IN THIS
ARTICLE, A TRUST COMPANY MAY:

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

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

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

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

(5)   ACCEPT AND HOLD TRUST PROPERTY;

(6)   ACT AS TRUSTEE UNDER A MORTGAGE OR BOND
ISSUE OF A CORPORATION OR POLITICAL SUBDIVISION;

(7) ACT AS PERSONAL REPRESENTATIVE OF THE ESTATE
OF ANY DECEASED INDIVIDUAL; AND