150 CORPORATIONS. [ART. 26.

under the hands and seals of at least seven of said association,
an instrument of writing, specifying therein the objects, articles,
conditions, and name and style under which they have asso-
ciated, and shall present the same to the judge of the Circuit
Court for the county, or the judge of the Superior Court of
Baltimore city, as the case may be, in which said corporation is
intended to be situated or its principal business transacted, and
the said instrument of writing shall be acknowledged before and
certified by said judge in the same manner as conveyances of
real estate, and the judge shall further direct said instrument of
writing to be recorded in the office for the recording of deeds in
said county or city, and the same shall be recorded in a book to
be provided for this special purpose.

12. On said instrument being so recorded, the persons so asso-
ciated shall, according to the objects, articles, conditions and
provisions in said instrument contained, become and be a cor-
poration or body politic in law and in fact, by the name, style
and title set forth in said instrument.

13. The name of every corporation formed under the preced-
ing sections shall include within it the name of the county or
city in which it may be formed, and shall differ in a sufficient
degree to be clearly distinguishable from the name of any pre-
viously formed and then existing corporation in the same county
or city.

14. Every corporation established by virtue of the preceding
sections, shall be capable in law according to the terms and
conditions of the instrument upon which it is formed, to take,
receive and hold any kind of property, real, personal and mixed,
and the same to employ, use and dispose of according to the
articles, objects and conditions of its charter, or according to its
articles and by-laws, or in case of a devise or bequest, according
to the will and intention of the donor, if the same be lawful and
within the proper objects and powers of said corporation.

15. No corporation formed under the provisions of the afore-
going sections, shall hold or possess at any one time property to
an amount or value exceeding the sum of fifty thousand dollars;
nor shall the clear yearly value or income of the whole amount
of property held by such corporation at any time exceed the sum
of four thousand dollars.