298 CORPORATIONS—POWERS. [ART. 23.

of, or in any manner not inconsistent with law, deal with any
property, real, personal or mixed, and situate in or out of this
State, which may be necessary or proper to enable said corpora-
tion to carry on the operations or fulfill the purposes named in its
certificate of incorporation, and generally to do every other act or
thing, not inconsistent with law, which may be necessary or proper
to promote the objects, designs and purposes for which said cor-
poration was formed

1868, ch. 471, sec. 49.

54. Fifth. To appoint a president of the company from among-
the directors, trustees or managers, and to appoint such officers,
and agents as the business of the corporation shall require; to al-
low them a suitable compensation, require security for the faithful
discharge of their duties, and regulate the tenure of office of the
said officers.

Eckenrode v. Chemical Co., 55 Md. 65.

Ibid. sec. 50.

55. Sixth. To make by-laws, not inconsistent with law, for the
management of its property, the regulation of its affairs, and for
the transfer of its stock, if any such stock there be; for the for-
feiture of stock not paid for, and for the disposition of the pro-
ceeds thereof; for the calling of regular, special and general meet-
ings of the directors, managers and trustees of said corporation,
and fixing the place or places where the same shall be held, and
to provide for all other matters which may be regulated by by-
laws, and from time to time to repeal, amend or re-enact the same;
but every such by-law, and every repeal, amendment or re-enact-
ment thereof, unless in the meantime confirmed at a general meet-
ing of the company, duly called for that purpose, shall only have
force until the next annual meeting of the company, and in de-
fault of confirmation thereof, shall, from that time only, cease to
have force. The stockholders, or members of the corporation,
may, at any general meeting, make by-laws, which shall not be
rescinded by the directors, managers or trustees.
Morrison v. Dorsey, 48 Md. 471.