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leasehold ; may make and procure and furnish plats and other
matters relative to property ; may examine the title to prop-
erty, and guarantee or insure owners and mortgagees of prop-
erty, real or leasehold, or of any person having any interest
therein, against loss by reason of defective title of said prop-
erty or liens or other encumbrances thereon.
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CHAP. 496.
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SEC. 12. And be it enacted, That said corporation may
take in its own name the title to real or leasehold property,
and issue certificates therefor under its corporate seal to the
owners thereof, guaranteeing the condition of the title thereto,
which said certificate shall state whether or not the title is
marketable, and whether or not the property is free from liens
and encumbrances, and which certificates shall represent the
equitable title to said property, and shall be negotiable by
endorsement in writing and delivery thereof, and said cor-
poration may loan money on said certificates upon such
terms as it may agree on with the holders of the same; said
corporation shall, at the request, in writing, of the holder of
such certificates, upon surrender thereof, convey the property
represented thereby to such holders, and said corporation shall
not make any disposition of. the property so conveyed to it,
unless at the request and with the consent in writing of the
holders of the outstanding certificates upon said property; and
the execution, acknowledgment and delivery by said corpora-
tion of any deed or assignment of any property, real or lease-
hold, which may have been granted or assigned to it under
this section, shall be prima jade evidence that the grantee or
assignee thereof was the bona fide holder of the last certificate
issued therefor by said corporation hereunder, and said cor-
poration may make all necessary rules and regulations govern-
ing the conveyance to and from it of property, real or
leasehold, under this section, and for the issuing, transfer, can-
cellation and reissuing of certificates therefor, compensation for
its services in the premises to be as agreed upon with the
owner of such property.
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Authority
to tatce the
title of
property and
issue
certificates
therefor, etc.
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SEC. 13, And be it enacted, That the stockholders of said
corporation hereby created shall have power to enact and adopt
such rules and regulations and by-laws for the government and
management of the affairs of said corporation as they shall
deem advantageous to the interest thereof; provided, the same
be not contrary to the law of the land.
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Adopt rules
and
regulations.
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SEC. 14. And be it enacted, That the said corporation shall
be subject to the provisions of chapter one hundred and nine
of the Acts of eighteen hundred and ninety-two, as amended
by chapter one hundred and sixty of the Acts of eighteen hun-
dred and ninety-six, and. to chapter two hundred and seventy-
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Subject to
certain
provisions.
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