ACT. 23. 1 CORPORATIONS. 27

with the recording fees and the bonus tax, if any payable, the
incorporators, their associates and successors shall, according
to the purposes, conditions and provisions in the certificate
contained, become and be a body corporate by the name, therein
stated. And a duly certified copy of such certificate from the
records of the State Tax Commissioner or of the Clerk of the
Circuit or Superior Court shall be prima facie evidence of the
existence of the corporation and its right to exercise the
powers therein mentioned.

SEC. 6. No certificate of incorporation shall be declared void
for formal defects merely; and where an effort has been made in
good faith to form, under the laws of this State a corporation
formable thereunder, neither party to any transaction with it
shall deny the legality of its incorporation or organization in
any suit or proceeding growing out of such transaction; and
"transaction" shall include any wrong to person or property
giving rise to a cause of action or equitable relief by or against
such corporation.

GENERAL POWERS.

SEC. 7. Every corporation which is subject to the provisions
of this article shall have the following general powers, except
where the special provisions relating to any particular classes
of corporations are inconsistent herewith:

(1) To have perpetual succession by its corporate name.

(2) To sue and be sued, complain and defend in all Courts.

(3) To make and use a common seal and alter the same at
pleasure.

(4) To transact its business, carry on its operations within
or without this State, and to exercise in any other State, terri-
tory, district or possession of the United States, or in any
foreign country, so far as the laws thereof permit, the powers
granted by this article.

(5) To make contracts, incur liabilities, and borrow money;
and to issue bonds and secure the same by mortgage or deed of
trust of its property, franchises and income; provided such issue
is authorized at any meeting duly warned, as provided for in
Sections 15 or 16 of this Article, by the affirmative vote of a
majority of all its members or a majority of all its stock (or if
two or more classes of stock have been issued, of a majority of
each class) outstanding and entitled to vote.

(6) Subject to the provisions of Article 38 of the Declara-
tion of Rights, to acquire by purchase or in any other manner,
and to take, receive, hold, use and employ, sell, mortgage, lease,
dispose of and otherwise deal with any property, real or per-
sonal, including the shares, bonds and securities of other cor-