ART. 23] CONSOLIDATION. 553

of each of the said corporations forming such union shall assent
thereto. Such union or consolidation shall be made upon such
terms and conditions as shall be agreed upon by the said cor-
porations; and the said new consolidated corporation shall have
such name and such capital stock as shall be agreed upon
between the corporations parties thereto; and when such union
or consolidation is made, a certificate of the said union and of
the particulars thereof shall be executed by the said corpora-
tions, and be acknowledged and recorded as other certificates
of incorporations are in this article directed to be acknowledged
and recorded.

1892, ch. 666, sec. 39 A.

46. When the aforesaid certificate of union shall have been
executed, acknowledged and recorded as provided in section 45
of this article, all the property and assets belonging to said
former separate corporations of whatsoever nature and descrip-
tion and all the powers and rights and all the debts and
liabilities of said former separate corporations of whatsoever
nature and description, shall upon such recording as aforesaid,
be devolved upon said new consolidated corporation, and every
devise or bequest in favor of either of the former separate cor-
porations, and which said former separate corporations would
have been capable of taking, shall devolve upon said new con-
solidated corporation, which shall be regarded as substituted
by operation of law in the room and stead of said former sepa-
rate corporation.
State use of Dodson v. Balto. & Lehigh R. R. Co., 77 Md. 492.

1896, ch. 410, sec. 39 B

47. Any educational, charitable or other corporation formed
tinder class one of this article, and having no capital stock, or
any corporation of a like character to those mentioned in said
class one, heretofore formed and now existing, and having no
capital stock, may unite with any other corporation incorpo-
rated under said class one, and having no capital stock; pro-
vided, that a majority of the members of each of the corpora-
tions forming such union shall assent thereto; such union or
consolidation shall be made upon such terms and conditions
and shall have such name as shall be agreed upon by the said
corporations forming such union; a certificate of such union
or consolidation and the particulars therof shall be executed
by the said corporations and be acknowledged and recorded