of the trust reposed in such trustee, which bond shall be retained and recorded in the office of said clerk, and no title shall pass to any trustee as aforesaid until such bond shall be filed and approved as aforesaid, and no sale made by any such trustee without such bond shall be valid or pass any title to such property or estate. If the trust estate consists of real property, or of real and personal property, situated partly in the county or city in which the grantor resides, and partly in one or more other counties, it shall be sufficient that a bond has been accepted and filed in the county of the grantor's residence; if the trust estate consists entirely of real estate in a county or counties other than of the residence of the grantor, it shall be sufficient that a bond has been accepted and filed in the county in which the deed has been first recorded.

Bank of Commerce v. Lanahan, 45 Md. 406. Harrison v. A. & E. R. R. Co., 50 Md. 506. Stiefel v. Barton, garnishee, 73 Md. 408. Gans v. Carter, 77 Md. 1. Fidelity Trust Co. v. Haines, 78 Md. 454. White v. Pittsburg Nat. Bank, 80 Md. 5. Moore. v. Title Co., 82 Md. 289. Casualty Co.'s Case, 82 Md. 562. Miller v. Matthews, 87 Md. 477. Talbot v. Leatherbury, 92 Md. 168, 169. United Rys. & Elec. Co. v. Rowe, 97 Md. 658.

1900, ch. 114, sec. 205A.

222. When any estate, real, personal or mixed shall be limited or conveyed to any trustee as security for debt, or to be sold upon a contingency, it shall not be necessary for such trustee to file a bond until after the contingency happens, or a sale is about to be made in pursuance of the power contained. in the deed or instrument creating the trust, and every such trustee before making sale shall file with the clerk of the court in which the deed or instrument creating the trust is recorded a bond in such penalty as the clerk may prescribe, being as nearly as can be ascertained double the amount of the trust estate, and with sureties to be approved by the clerk, conditioned for the faithful performance of the trust reposed in such trustee, which bond shall be retained and recorded in the office of the said clerk, and shall report all sales made by him to the court of equity having jurisdiction in the premises, in the same manner and subject to the same rules as are required and prescribed in relation to sales made in pursuance of decrees of courts of equity in this State; and no sale made by any such trustee without such bond shall be valid or pass any title to such property or estate. If the trust estate consists of

real property, or of real and personal property, situated partly in the county or city in which the grantor resides, and partly in one or more other counties, it shall be sufficient that a bond has been accepted and filed in the county of the grantor's residence; if the trust estate consists entirely of real estate, in a county or counties other than of the residence of the grantor, it shall be sufficient that a bond has been accepted and filed in the county in which the deed has been first recorded.

1900, ch. 123.

223. All sales heretofore made, and all the deeds, demises and other instruments of writing granting and conveying real, personal or mixed estates heretofore executed and delivered by the trustee or trustees to whom any estate, real, personal or mixed had heretofore been limited and conveyed for the benefit of creditors, or to be sold for any other purpose, and who gave bond with but one surety, shall be and the same are hereby made valid and effective to pass title and valid to all intents and purposes as if the said bond given by the said trustee or trustees had had two sureties or more thereon, as required by section 221 of this article, provided, that such trustee or trustees has or have complied with all the other requirements of law, and such sales, deeds, demises and other instruments of writing are in conformity with the laws; and provided further, that nothing in this section shall affect the interest of bona fide purchasers and incumbrancers without notice, and creditors who may have become such prior to March 27, 1900; provided, nevertheless, that nothing in this section shall operate to divest any lien or claim upon property passing under such trustee's deed, which may now exist, or which may hereafter arise, for the benefit and protection of any cestui que trust, where the purchase money may not have been properly applied.

1888, art. 16, sec. 206. 1874, ch. 483, sec. 108.

224. Where upon an investigation of the circumstances of the case, the circuit court for the county, or circuit court or circuit court No. 2 or superior court of Baltimore city shall be satisfied that it would be improper to require a bond to be given for double the amount of the property placed in the hands, or made subject to the disposition of said trustee, the court may prescribe the amount of the bond to be given by such trustee.

1888, art. 16, sec. 207. 1874, ch. 483, sec. 109.

225. If any trustee shall fail or refuse to give such bond for the space of three months after the deed or instrument creating the trust is deposited with the clerk to be recorded, the clerk shall give notice thereof to the court of which he is clerk, or to the judge thereof, who, upon consideration of the circumstances and upon reasonable notice to the trustee, and such of the parties interested as may conveniently be served therewith, as the court or judge shall prescribe, shall proceed to appoint another trustee in lieu of the trustee who shall have failed or refused.

Ibid. sec. 208. 1874, ch. 483, sec. 110.

226. Upon the trustee, so appointed by the court or judge, giving bond as before directed, the whole trust estate shall vest in him, subject to the provisions of the trust deed or other instrument creating the trust, and the same power may be exercised by the court or judge from time to time until a trustee shall be appointed and give bond.

Ibid. sec. 209. 1874, ch. 483, sec. 111. 1884, ch. 26.

227. It shall be the duty of the trustee within six months from the period of his giving bond to make report upon oath to the circuit court for the county or circuit court or circuit court No. 2 of Baltimore city of the whole amount of the trust estate and the disposition made of the same; and any sale of leasehold or fee simple property made by such trustee, before taking effect, shall be reported to and ratified by said court.

Ibid. sec. 210. 1874, ch. 483; sec. 112.

228. If any trustee shall fail to make report to the court, as required by the preceding section, the clerk shall issue a summons commanding him to appear before court at the next ensuing term to make such report, and if the summons is returned served, and the trustee shall fail to appear and report, an attachment shall issue to compel an appearance upon which similar proceedings shall be had as in other cases.

Ibid. sec. 211. 1870, ch. 247. 1878, ch. 107.

229. In any case in which a trustee shall have been, or may hereafter be appointed by deed or by will, either as sole trustee or as a trustee to act in conjunction with another

person or other persons to manage, lease or sell any real or personal estate, or shall have been or shall hereafter be appointed such trustee by any court of this State exercising equity jurisdiction, and shall be desirous to retire from and resign such trust after he or she shall have accepted the same, such trustee may exhibit a petition ex parte in the court exercising equity jurisdiction in the city or county where said real or personal estate or said leasehold property may be situated, accompanied by a full and particular account, under oath, of his or her receipts and disbursements, if any, as such trustee; and the said court, upon the filing of such petition and account, shall have jurisdiction in the premises, and shall cause notices to be given by publication in one or more of the papers of said city or county, and for such time as the said court may deem proper, giving notice of the filing of such petition; and if no good cause shall be shown to the contrary by the day that may be limited in that behalf in said notice, the said court, by its decree, shall release and discharge the said trustee from the further execution of said trust, and may pass such order as to costs, and impose such terms in other respects, if any, as the nature of the case and equity may require; provided, that such discharge shall not release said trustee or his sureties, if any, from liability to any of the cestui que trusts or other persons, for passed acts, defaults or omissions of duty.

1888, art. 16, sec. 212. 1870, ch. 247, sec. 2.

230. Upon passing such decree, as mentioned in the preceding section, or at any time thereafter, on the motion of any person interested in the further execution of said trust, where the character of the trust requires the appointment of another person as trustee in place of the discharged trustee, the said court shall appoint some suitable person to act thereafter in execution of said trust; provided, nevertheless, that where any person shall be in the same trust as a co-trustee, satisfactory evidence shall be produced before the appointment of a substituted trustee that such co-trustee had actual notice of the proposed appointment of such new trustee and full time to be heard in relation thereto.

Western Md. R. R. & Land Co. v. Goodwin, 77 Md. 278.

Ibid. sec. 213. 1876, ch. 245, sec. 1. 1894, ch. 530.

231. A trustee in the State of Maryland, either by deed or will, or by appointment by order of the circuit court or circuit

court No. 2 of Baltimore city, or by any court in this State having equity jurisdiction, or the committee of any lunatic having funds, money or property of any kind or description, whether invested or uninvested, belonging to cestui que trust or lunatic, may, upon order of the circuit court or circuit court No. 2 of Baltimore city, or upon order of any court of this State having equity jurisdiction, or any judge thereof, transfer, assign or pay over the principal of said trust estate, of whatever it may consist, and being the property of his cestui que trust, or of such lunatic, to any other trustee of said cestui que trust or committee, guardian or trustee of such lunatic, appointed as such by a court in any State of competent jurisdiction, or any judge thereof, whether the trustee, committee or guardian so appointed resides in the State of Maryland or elsewhere.

1888, art. 16, sec. 214. 1876, ch. 245, sec. 2. 1894, ch. 530.

232. Upon application the said circuit courts of Baltimore. city, or any court in this State having equity jurisdiction, is authorized and empowered to pass an order directing the transfer, assignment or payment of the trust funds, moneys or properties of said cestui que trust or lunatic to any other trustee, committee or guardian, as specified and mentioned in section. 231, provided the said court, before passing the order as aforesaid, or any judge thereof, as mentioned in the preceding section, who is hereby authorized and empowered to pass such order, shall be of opinion that it would be to the interest and advantage of the cestui que trust or lunatic that said transfer should be made, and the court or said judge shall further be satisfied that said new trustee, committee or guardian has properly bonded and been qualified as said trustee, committee or guardian.

Ibid. sec. 215. 1876, ch. 245, sec. 3. 1894, ch. 530.

233. The receipt and release of the trustee or trustees, committee or guardian, properly anthenticated, as provided by article 79 of this code, to whom the said trust moneys, properties and effects of the cestui que trust or lunatic shall or may have been paid over, assigned or transferred in virtue of the order or decree of the said circuit court or circuit court No. 2 of Baltimore city, or of any other court of competent jurisdiction in this State, or any judge thereof, shall be a good and sufficient release to the trustee or committee so paying over,