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ART. XXIII] CONSOLIDATION. 93
1904, art. 23, secs. 45, 46. 47. 1888, art. 23. sec. 39. 186S, ch. 471, sec. 36.
1892, ch. 666, sec. 39A. 1896, ch. 410. sec. 39B. 1908, ch. 240,
sec. 29. 1916, ch. 596, sec. 29.
29. (1) Any two or more corporations having capital stock, now
existing or hereafter formed under any law or laws of this State, which
have been or shall have been duly authorized by law to carry on in
whole or in part any kind of business of the same or a similar nature,
may consolidate and by such consolidation form one new corporation;
provided, however, that the provisions of this Section and of Sections 30
and 31 of this Article shall not be held to repeal any of the restrictions
imposed by this Article on the consolidation of railroads owning or oper-
ating competing or parallel lines, and provided further that any cor-
poration which shall take advantage of this Section shall be deemed
to have waived all claim to exemption from taxation or from repeal
or modification of its charter.
(2) Such consolidation shall be made in the manner following:
There shall be an agreement of consolidation between the consolidating
corporations giving: (a) the terms and conditions of the proposed con-
solidation; (b) the mode of carrying the same into effect; (c) the name
of the new corporation; (d) the post office address of the place at which
the principal office of the corporation in this State will be located as in
the case of a certificate of incorporation and the name or names and
postoffice address or addresses of the resident agent or agents who will
be in charge thereof, as in the case of a certificate of incorporation;
(e) the Counties in this State in which any of the consolidating corpo-
rations own property, the title to which could be affected by the record-
ing of an instrument among the land records, and if any of the con-
solidating corporations own such property in the City of Baltimore,
the agreement of consolidation shall so state; (f) the number, names
and addresses of the directors and the names of the officers, who shall
act ai such until their successors are duly chosen and qualified; (g)
the amount of authorized capital stock of each consolidating corporation
and the total amount of authorized capital stock of the new corporation
and the number and par value of the shares; (h) the total amount of
capital stock of the new corporation to be issued for stock of the con-
solidating corporations; (i) the restrictions, if any, imposed upon the
transfer of the shares or of any of them; (j) if the capital stock is
classified, the amount, par value, preferences, restrictions and qualifi-
cation of each class, specifying the amount of each class authorized and
the amount of each class to be issued for stock of the consolidating cor-
porations ; (k) the manner of converting the capital stock of each of
the consolidating corporations into stock of the new corporation; (1)
all such other provisions and details which shall be deemed necessary
to perfect the consolidation. The agreement of consolidation may also
contain any amendment or amendments which may be desired, but if
such amendment or amendments be made therein, the agreement of con-
solidation shall contain all of the matters and things required to be
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