316 FORMATION, POWERS, AND REGULATION OF CORPORATIONS. [ART. 40.

Qualification	the same has not been transferred to qualify him to serve as director therein.
Id s 13 Stock of voter, hypothecated	1 3. In all cases where the stock in any corporation in this State shall have been hypothecated or pledged by the owner thereof as security for the payment of any debt or loan, such person, upon ex- hibiting to the person holding any election in such corporation, a certificate in writing from the pawnee of said stock, that the same is held in pledge or by hypothecation, shall, until forfeiture, be deemed and taken to be the holder of such stock, and as such, entitled to vote the same; and every person holding stock in such corporation as executor, administrator, guardian, or trustee, shall represent the shares of stock in his hands, and may vote accordingly as a stock- holder at any election in such corporation. PROVISIONS FOR THE FORMATION OF CORPORATIONS.
Id s 14 How formed 46 Md 359, 89 Md 164, 13 Md 91	1 4, Corporations may be formed in this State, under the pro- visions hereinafter set forth, by any five or more persons, citizens of the United States, and a majority of them citizens of this State, or if unnaturalized, residents of this State making oath that they bond fide intend to become citizens of the United States without un- reasonable delay, who may desire to form a body corporate or poli-
Educational, moral, scien- tific, etc, socie- ties	tic, for any of the following purposes: Class 1 — For the creation and maintenance of educational, moral, scientific, literary, dramatic, musical, social, benevolent, or beneficial societies or associations, of all descriptions; of religious or charitable societies or associations;
Fire engines and hose com- panies, etc	fire engines and hose companies, and of uniformed volunteer com- panies, of universities, colleges, academies, hospitals, or asylums;
Proviso	provided, such corporations are located in this State, and that the property which they possess or acquire is located therein.
Id s 15 Mechanics' in- stitutes, co-ope- rative stores, etc	15. Class 2. — For the creation and maintenance of mechanics' institutes, co-operative stores or societies, libraries, public reading or lecture-rooms, medical societies, public hotels, public baths, dairy associations, and agricultural or horticultural societies, fairs or exhibitions, and companies for the packing of fruits, vegetables and
Proviso	other things; provided, such corporations are located in tin's State, and the property they possess or acquire is located therein.
Id s 16 For buying, selling, etc, land, etc	16. Class 3 — For buying, selling, mortgaging, leasing, improving, disposing "Of, Or otherwise dealing with land in this State, or partly in this State and partly beyond this State, and for the procuring, preparing for market, transportation, and selling of lumber, timber, wood, or other products of land.
1876, c 269 For fire, life, marine, acci- dent, cattle, etc, insurance com- panies to have principal office in State Yards, etc, in, or near the city of Baltimore.	1 7. Class 4. — For the formation of fire, life, marine, accident, cattle, live stock, and other insurance companies, and all companies for receiving, weighing, sheltering, feeding, and exposing for sale cattle, sheep, and hogs, provided, that such companies shall have their principal office in this State; and provided, the yards and scales of every company for receiving, weighing, sheltering, feeding,