276 LAWS OF MARYLAND [CH. 135

(1) To have perpetual existence, or existence for a limited
period if such limitation is stated in a charter provision
adopted on or after June 1, 1908.

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

(3) To have and use a corporate seal and alter the same at
pleasure.

(4) To transact its business, carry on its operations and
exercise the powers granted by this Article in any state, terri-
tory, district, or possession of the United States, and in any
foreign country.

(5) To make contracts, incur liabilities, and borrow money;
to sell, mortgage, lease, pledge, exchange, convey, transfer,
and otherwise dispose of all or any part of its property and
assets; 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.

(6) To acquire by purchase or in any other manner, and
to take, receive, own, hold, use, employ, improve and other-
wise deal with any property, real or personal, or any interest
therein, wherever situated.

(7) To purchase, take, receive, subscribe for, or otherwise
acquire, own, hold, vote, use, employ, sell, mortgage, loan,
pledge, or otherwise dispose of, and otherwise use and deal in
and with, shares or other interests in, or obligations of,
other corporations of this State, of foreign corporations, and
of associations, partnerships, and individuals.

(8) To acquire shares of its own stock, and its own bonds,
notes and other obligations, subject to the limitations pro-
vided in this Article.

(9) To invest its surplus funds and to lend money from
time to time in any manner which may be appropriate to en-
able it to carry on the operations or to fulfill the purposes
named in its charter, and to take and hold real and personal
property as security for the payment of funds so invested or
loaned.

(10) To make reasonable gifts or contributions out of
profits, when authorized by its board of directors so to do, to
or for the use of (i) this State, its institutions and agencies,
or any political subdivision of this State, and (ii) any corpo-
ration, trust, community chest or fund, foundation, society or
other organization for religious, charitable, scientific, civic,
literary or educational purposes.