78

CORPORATIONS. [ART. 26.

the treasurer of Maryland, or of such other officer or
agent of the state of Maryland as may be appointed or
selected for, that purpose by either branch of the legis-
lature.

Capital stock.

155. The capital stock of any such corporation shall
not exceed one million of dollars.

RELIGIOUS CORPORATIONS.

Church trus-
tees.

156. In every church, religious society or congrega-
tion of whatever sect, order or denomination, or which
shall at any time hereafter be known and acknow-
ledged in the state, and protected in the free and full
exercise of its religion by the constitution and laws
thereof, there shall be sufficient power and authority in
all persons above twenty-one years of age, belonging to
any such church, society or congregation, to elect at
their discretion, certain sober and discreet persons, not
less than four, nor more than twelve, which persons so
elected, upon being registered, as hereinafter directed,
shall be constituted a body politic or corporate to act
as trustees in the name and behalf of the particular
church, society or congregation for which "they are
respectively chosen and to manage the estate, property,
interest and inheritance of the same.

Power of trus-
tees.

157. The trustees so elected shall have perpetual
succession by their name of incorporation, and shall be
capable in law to purchase, take and hold to them and
their successors in fee, or for a less estate, any lands,
tenements or hereditaments, rents or annuities, goods
or chattels within this state, by the gift, bargain, sale
or devise of any person, body politic or corporate, capa-
ble of making the same, and to use or lease, mortgage
or sell and convey the same in such manner as they
may judge most conducive to the interest, of their

Proviso.

respective churches, societies or congregations; pro-

Sale, &c., of
property.

vided, that nothing herein shall authorize any sale,
mortgage or other disposition of any property held by
such corporation under any instrument prohibiting