SPIRO T. AGNEW, Governor                      1309

(b)[(8)](7) The number of directors, which shall not be less
than three, and the names of those who shall act as such until the
first annual meeting or until their successors are duly chosen and
qualify.

(c) The articles of incorporation may state—

[(b) (9)] (1) Any provision not inconsistent with law, which
may be desired for the purpose of defining, limiting and regulating
the powers of the corporation and of the directors and stockholders,
or of any class of stockholders, and of holders of any bonds, notes or
other securities which the corporation may issue.

[(b)(7)] (2) [The] [r] Restrictions, [if any, imposed] not
inconsistent with law, upon the transferability of shares of any class.

[(c)] ($) Any provision which is authorized by this Article to
be included in the by-laws [may be included in the articles of in-
corporation].

5. Corporate Name.

(a) (1) Shall be such as to indicate that it is a corporation. This
provision shall be deemed to be complied with if the name contains
the word "corporation", "incorporated" or "limited"; or ends with an
abbreviation of one of such words; or contains or ends with the
word "company," if such word is not immediately preceded by the
word "and" or any symbol therefor.

9. Powers.

(a) (5) To make contracts and guarantees, 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.

Sec. 3. And be it further enacted, That Sections 11 (a) (1), 11 (d),
11(e), 12(b), 13(a), 13(c), 13(d), 13(e) and 13(f) of Article 23 of
the Annotated Code of Maryland (1957 Edition) title "Corporations,"
subheading "I. Stock Corporations," subtitle "Charter Amendments,"
be and they are hereby repealed and re-enacted with amendments, to
read as follows; and that Section 11 (f) of said title, subheading and
subtitle be and the same is hereby repealed; and that Section 11 (g)
of said title, subheading and subtitle be and the same is hereby re-
designated as Section 11 (f), as follows:

11. Procedure to Amend Charter.

(a) (1) If made prior to the first meeting of the board of direc-
tors, amended articles of incorporation in the same form required for
original articles of incorporation shall be filed with the [Commis-
sion] Department, signed and acknowledged by all the incorporators
who signed the original articles of incorporation and the fees and
bonus tax, if any, provided by law shall be paid. The amended
articles of incorporation shall take the place of the original articles
of incorporation upon acceptance by the [Commission] Department
for recording.