376

LAWS OF MARYLAND.

the creation and maintenance of educational, associations, univer-

sities, colleges, academies, hospitals or asylums, may take and

hold any property, real or personal, situate out of this State,

which may he given, devised or bequeathed to said corporations,

and may hold, use or sell and convey the same, or may deal with

it in any manner not inconsistent with law.

3. The object or purposes for which incorporation is sought,

the time of its existence not to exceed forty years, and the articles,

conditions and provisions under which the incorporation is formed;

provided, that the limitation as to the duration of the existence

Object

of corporations formed under this article shall not apply to gas

light companies, or to corporations formed for the creation or

maintenance of educational associations, universities, colleges,

academies, hospitals or asylums, and that certificates of incorpora-

tion of all corporations named in this proviso may contain pro-

visions for perpetual existence.

47. If any alteration or amendment of the articles or provisions

of the charter of any of said corporations shall, he made by the

authority of the corporation, such alteration or amendment shall

be made known, acknowledged and recorded in the same manner

as prescribed in sections forty-two, forty-three and forty-four of

this article, and after the said alteration or amendment shall be

recorded, the same shall be taken to be a part of the said charter

Amend-
ment

or instrument as if the same had originally been made a part

thereof; and any corporation heretofore formed under the pro-

visions of this article for the creation or maintenance of educa-

tional associations, universities, colleges, academies, hospitals or

asylums, the existence of which by the terms of its charter is

limited to a period of forty years or less, is authorized to amend

its charter so as to provide for perpetual existence, and any other

corporation formed under the provisions of this article the exist-

ence of which, by the terms of its charter, is or may be limited

to a period of less than forty years, may amend its charter so as

to provide for an extension of its existence for a period of forty

years from the date of its formation.

SEC. 2. And be it enacted, That the legislature reserves to itself

the right to alter, amend or repeal this act or any part thereof,

Reserves

and that nothing herein contained shall be construed to prevent

the forfeiture of the charter of any corporation formed or amended

under or in accordance with the provisions of this act for misuser

or non-user of its corporate powers as now recognized by law.

Approved May 29, 1890.