CORPORATIONS. 711

An. Code, see. 100. 1904, sec. 50. 1888, sec. 42. 1868, ch. 471, sec. 37. 1876, ch. 349.
1890, ch. 339. 1892, ch. 39. 1894, ch. 557. 1908, ch. 240, sec. 75.

130. Every corporation formed under this article shall have, until for-
feiture, the right of perpetual succession; and all provisions in the charter
or certificate of any existing corporation or imposed upon it by any act in
force at the time of its creation or formation, limiting its duration, are
hereby annulled and repealed.

An. Code, sec. 100A. 1916, ch. 596. 1916, ch. 374.

131. No corporation shall hereafter interpose the defense of usury
in any action at law or in equity.1

This section repealed usury statutes as to corporations; it lays down a rule of
substantive law and is applicable in whatever jurisdiction suit on a Maryland con-
tract is brought. Union Divers Co. v. Commercial Credit Co., 289 Fed. (C. C. A.
5th Ct.) 319.

An. Code, see. 101. 1904, sec. 49. 1888, sec. 41. 1886, ch. 49. 1908, ch. 240, sec. 76.

132. When the value of the property owned by any charitable or
benevolent society or corporation, incorporated under any general or special
law of this State, or the income of such charitable or benevolent society
from such property was, when the said property was acquired within the
limit or limits prescribed by law for the tenure and enjoyment of such
property or income, but has hereafter increased in value, such benevolent
or charitable association or corporation may lawfully hold, enjoy, use and
deal with the increased value of said property or property derived there-
from, or with the increased income derived therefrom, for its said chari-
table and benevolent purposes in the same manner and to as full an extent
as it might have enjoyed, used or dealt with said property or income, if the
value of said property, or the amount of income derived therefrom, had not
so increased.

An. Code, sec. 102. 1908, ch. 240, sec. 77.

133. A stockholder of any corporation of this State may by agreement
in writing transfer his stock to any person or persons for the purpose of
vesting in him or them the right to vote thereon, for a time not exceeding
five years, upon terms and conditions stated, pursuant to which such person
or persons shall act. Every other stockholder, upon his request therefor,
may by like agreement in writing also transfer his stock to the same person
or persons and thereupon may participate in the terms, conditions and
privileges of such agreement. The certificate of stock so transferred shall
be surrendered and cancelled and certificates therefor issued to such trans-
feree or transferees in which it shall appear that they are issued pursuant
to such agreement; in the entry of such transferee or transferees as the
owners of such stock on the proper books of said corporation, that fact shall
also be noted, and thereupon he or they only may vote upon the stock so
transferred during the time in such agreement specified; a duplicate of

1 The act of 1916, ch. 596, sec. 100A, is the same as the act of 1916, ch. 374, save that
the former does not include the words " at law or in equity."