916 LAWS OF MARYLAND. [CH. 334

CHAPTER 334.

AN ACT to repeal and re-enact with amendments, Section 7 of
Article 23 of the Annotated Code as said section was re-en-
acted by Chapter 309 of the Laws of 1922.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 7 of Article 23 of the Annotated Code, as
said Section was re-enacted by Chapter 309 of the Laws of 1922,
be, and it is hereby repealed and re-enacted with amendments
so as to read as follows:

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 cor-
porations 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, territory,
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
for its corporate purposes; and to issue bonds, notes and other
obligations and secure the same by mortgage or deed of trust
of all or any part of its property, franchises and income; pro-
vided any such issue of bonds, notes or other obligations secured
by mortgage or deed of trust of any of the franchises of the cor-
poration shall have been authorized at any meeting duly warned,
as provided for in Sections 15 or 16 of this Article, by the affirm-
ative vote of a majority of all of its members or a majority of
all of its stock (or if two or more classes of stock have been
issued, of a majority of each class), outstanding and entitled
to vote thereon.

(6) Subject to the provisions of Article 38 of the Declaration
of Bights, 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 personal, situ-
ated in or out of this State, including shares in, and bonds, notes
and other obligations of other corporations, incorporated under
the laws of this State or of any other State or otherwise, which