St. Mary's gazette., 1867-07-25
LAWS-GENERAL-
GENERAL ASSEMBLY OF MARY
LAND
At the January Session, 1867.
PUBLISHED BY AUTHORITY


Entitled an act to adj additional sections
to article so ofthe Code of Public Gen
eral Laws. in relation to embezzle-
ments and frauds.
Section | Be it enacted by the Gene
raj Assembly of Maryland, That the fol-
loving sections be aud the same are here
bv added to the 30th article OF the Code Of
Public General Laws, to be arranged SO as
TO form sub-seetions Of section % OF same
article
Subsection 2 That if any money or
security for the payment Of money, shall
be entrusted to any banker broker, mer-
chant, attorney or other agent, with any
direction in writing to apply such m oncy,
or any part thereof, or tne proceeds, or
any part of the proceeds of such security,
for any purpose specified III such dIrec-
ton, and ne sball, in violation of good
faith, and contrary to the purpose 50 spe-
cited, III any wise convert to his own use
or benefit such money, security or pro-
cecds or any part thereof spectiyely. cy
cry such offender shall be guilty OF a mis-
demeanor, ana being convicted thereof,
shall be imprisoned in the pcnitentiary for
term of not more than ten years, or less
than three years, and be fue not more
than five thou.and nor less than one thou
SAND dollars. Aud if any cGattel or valu-
able security; or any power of attorney,
for the sale or transfer OF any share or n
te:est, or cert 6cate Of any share or inter
est, in any stock of this or Of any other
State or of the United States. or of any
foreign state, or in any fund or capital
stock of any body corporate, company or
society, shall be entrusted to any banker,
broker, mel chant, attorney, or other agent,
for safe custody, or for any special purpose,
without any authori.y.to sell, negotiate,
transfer or pledge, and he shah, in viola
tion of good faith, and contrary to the oh
ject or purpose for which such chattel or
security, or power of attorney shall have
been entrusted to bin, sell, neg tate,
transfer, pledge. or in any manner convert
to his own use or benefit such chattel or
: securi:y. Or the proceeds of the same, or
any part thereof. Or the share or interest III
the stock or fund to which such power OF
attorney shall relate, or any part thereof,
every such offender shall be guilty of a
: miselemeanor, and being conviced thereof
shall be liable to the punishments which
the court may award, as hereinbetor last
mentioned
Subsection 8 That nothing heroIubc-
fore contained. relating to agents, shall at
t feet any trustee, in or under any lnstru-
ment whatever, or any mortgage OF any
: property, real or personal, i'll respect OF
, any act done by such trustee, or mortga-
: gees in relation to the property comprised
: gage; nor shall restrain any banker, bro
ker, merchant, attorney or other agent,
from receiving any money which shall be,
or actually become due, and payable upon
or by virtue of any valuable security, ac-
cordiDg 10 the tenor and effect thereof, IN
such manner as he might have done if this
act had not been passed nor from selling,
transferring, or otherwise dispo>lug Of any
securities or effects in his possession upon
which be shall have any lien, claim or de-
mana emitting hi m by law so 20 90, unless
such sale, transfer or other disposal shall
extend to 2 greater number or part Of
such securities or effects, than shall be re
SOU site for satisfying such lieu, claiu or
demand.
Sub-soc,ion 4. That if any factoF or
; aecut iutrustcd, for the purpose Of sale,
with any goods or merchaniiz, or in'rns-
ted With any bil Of la ling, warehouse
+ keeper or wharGHgcr certificates, or war
rant, CT order for delivery Of goods Or mer-
chandizc, shall, FIR nis own beucft aud in
violation Of good faith. deposit 2r pledge
any such goods or morchaudlz', or any Of
the sail documents, as 4 Secnrl'y for any
money or negotiable instrument, borrowed
or received b7 such factor or agent at or
before the tine of making such deposit or
/ pledge, or intended to b. thereafter hor-
{ rowtd CT received, every such offender
shrll be guilty OF misdemeaaor, and be-
inr convicted thereof, shah be imprisoned
+ in the poritentiary for term OF nos more
than ten wears nor lo,s ihao three years, and
: be- fined not more than five thousand or
less than one thousand dollars But no
such f.ctor or agent shall be liable 10 any
prosecution for dcTositiag or p!eigin1 any
such goods or merchandise. pr any ot the
said documents. in case the same shall not
be made a security Tor or sQlject to the
payment of any grcnter sum Of 'noney
Ihan the amount which, at the time of such
deposit or pledge, was justly due and ow-
ing 10 such factcr or agent tfom his Pfln-
cfal. together with the amount Of aug bs.I
or bills Of exchange drawn by or on ac-
coant ol such principal, a1d accepted BY
such factor OF agent.
Suo->yc'inn . hat nothing IN those
e4l->ectiols contaiucl. nor any proce" /
iur. conviction oF j-!1ne2' = te bll y
',5on. ..,,tup a..unet a1. l44L I, III