ART. 23.] CORPORATIONS—FORMATION—CLASSES. 289

1868, ch. 471, sec. 13.

13. 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 per-
son, upon exhibiting 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 stockholder at any elec-
tion in such corporation.

Provisions for the Formation of Corporations.

1868, ch. 471, sec. 14.

14. 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
bona fide intend to become citizens of the United States without
unreasonable delay, who may desire to form a body corporate or
politic, 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, and of uniformed volunteer companies, of universities, col-
leges, academies, hospitals or asylums; provided, such corporations
are located in this State, and that the property which they possess
or acquire is located therein.
Boyce v. Trustees, 46 Md. 372.

Ibid. sec. 15.

15. Glass 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

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