HENRY LLOYD. ESQUIRE, GOVERNOR
CHAPTER 49.

AN ACT to amend article twenty-six of the
Code of General Laws of this State, relating
to corporations, as re-enacted by the acts of
January session, eighteen hundred and sixty-
eight, chapter four hundred and seventy-one,
by adding thereto an additional section re-
lating to the amounts of property, or income,
held or enjoyed, or to be held and enjoyed
by any charitable or benevolent association
incorporated under any general or special
law of this State.

SECTION I. Be it enacted by the General As-
sembly of Maryland, That article twenty-six

69

of the Code of Public General Laws of this

state, as the same was re-enacted by the act
of January session eighteen hundred and sixty-
eight, chapter four hundred and seventy-one,
relating to corporations, be and the same is
hereby amended by adding thereto the follow-
ing additional section :

SEC. 2. When the value of the property
owned by any charitable or benevolent society
or corporation incorporated under any general
or special law of this State, or the income of
such charitable or benevolent society from
such property was when the said property
was acquired within the limit or limits pre-
scribed by law for the tenure and enjoyment

Amended,

of such property, or income, but has thereafter
Increased in value, such benevolent or char-
itable association or corporation may lawfully
hold, enjoy, use and deal with the increased
value of said property or property derived
therefrom, or with the increased income de-
rived therefrom, for its said charitable and
benevolent purposes in the same manner, and
to as full an extent as it might have enjoyed,
used, or dealt with said property or income if
the value of said property or the amount of
Income derived therefrom had not so increased.

Hold, enjoy,
&c