CORPORATIONS

769

	422. Substantial compliance only required.	440. By-laws.
	423. Commission, etc., may enter premises.	441. Directors; election, term, etc.
	424. Biennial audits of accounts, etc., of	442. Meetings.
	commission; reports.	443. Officers.
	425. Incidental powers.	444. Removal of officers or directors.
	426. Approval of issue of securities of cor-	445. Contracts with members; sale of
	porations sold under judicial, etc.,	stock.
	proceedings; capitalization of assets	446. Each member has one vote.
	other than franchise.	447. Voting by proxy, when.
	427. Application of sub-title limited to	448. Purchase of another corporation, etc.
	Maryland.	449. Payment for stock or membership fee.
	428. Sections of this sub-title, independent.	450. Voting by mail.
	429. Repeal of inconsistent laws.	451. Quorum.
		452. Profits, distribution.
	Co-operative Associations.	453. Non-profit operation.
		454. Reports.
	430. Definitions.	455. Corporations may be converted into
	431. Sub-title extended to fishery products.	co-operative associations.
	432. Articles of incorporation; purposes.	456. General corporation law applicable;
	433. Filing of incorporation papers.	exceptions.
	434. Amendment of charter.	457. Not combination in restraint of trade.
	435. Fees.	458. Who may use term "co-operative";
	436. Dissolution.	penalty.
	437-439. Powers.	459. Deeds of trust to secure loans.

An. Code, 1924, sec. 1. 1912, sec. 1. 1904, sec. 417. 1888, sec. 303. 1868, ch. 471, sec. 216.
1908, ch. 240, sec. 1. 1916, ch. 596, sec. 1. 1937, ch. 504, sec. 1 (p. 1061).

1. (1) Except as therein otherwise provided, the sections of this Arti-
cle, numbered 1 to 37, 61 to 63 and 66 to 104, all inclusive, shall
become and be operative on and after the first day of June, in the year
nineteen hundred and eight (1908), and the provisions thereof shall apply
to and govern all corporations then existing and thereafter formed, and all
corporate acts thereafter done; provided (first), that nothing in said sec-
tions contained shall be construed to affect the existence of any then existing
corporation or to impair the validity of any corporate act done and per-
formed in accordance with the pre-existing law; and provided (second),
that in the event of any inconsistency between any of the provisions of said
sections and the rights conferred by any special act or any legally author-
ized agreement of consolidation passed or filed prior to said first day of
June, in the year nineteen hundred and eight (1908), the provisions of
said special act or agreement of consolidation shall prevail to the extent
of such inconsistency; and provided (third), that in the event of any in-
consistency between any of the provisions of said sections and the provisions
made for particular classes of corporations by the subsequent sections of
this Article, the latter shall prevail to the extent of such inconsistency;
and provided (fourth), that nothing herein shall be taken or construed as
preventing the formation and management under the provisions of said
sections, and without reference to the provisions made for particular classes
of corporations by the laws of this State, of corporations for constructing,
maintaining and operating railroads or railways or telegraph or telephone
lines, to be located entirely outside of this State, or of water or mining
corporations conducting their operations entirely outside of this State; and
provided (finally), that unless therein otherwise stated, the said sections
shall be available to all corporations of this State as alternative to and not
in substitution for any inconsistent provisions contained in any such special

¹ In the An. Code of 1912.
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