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Session Laws, 1967
Volume 681, Page 1369   View pdf image (33K)
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SPIRO T. AGNEW, Governor                        1369

of the archdiocese, the pastor of the said congregation for the time
being, according to the discipline and government of the Roman
Catholic Church, and such other persons (if any) as may be ap-
pointed by the ordinary to act as additional corporators, shall be
constituted a body politic and corporate, under such title as may be
assumed by the said corporation, and recorded in a certificate of in-
corporation under the hands and seals of the corporators, the said
certificate of incorporation to be thereupon acknowledged as pro-
vided by law by at least three of the said corporators, and delivered
for record, [together with a copy thereof] to the [State Tax Com-
mission] Department in the manner and with the effect provided
in sec. 269 of this article.

273. Continuance in office of corporators until successors are elected
or appointed; amendment of charter.

(1)    Continuance in office.—The corporators so acting shall con-
tinue to constitute the corporation until their respective successors
are, from time to time, elected or appointed to act as successor
corporators in accordance with the discipline and government of the
Roman Catholic Church.

(2)    Amendment of charter.—If at any time the corporators for
the time being shall think it wise to amend the charter of the said
corporation, they may do the same by articles of amendment executed
under their hands and seals, acknowledged as provided by law by at
least three of the said corporators for the time being, and delivered
for record [, together with a copy thereof,] to the [State Tax Com-
mission] Department in the manner and with the effect provided in
sec. 269 of this article.

Sec. 21. And be it further enacted, That Sections 350 and 369 of
Article 23 of the Annotated Code of Maryland (1957 Edition), title
"Corporations," subheading "III. Particular Classes of Corporations,"
subtitle "Cooperative Associations," be and the same are hereby re-
pealed; and that Sections 349, 351, 352, 353, 354, 355, 356, 358, 359,
360, 361, 362, 363, 364, 365, 366, 367, 370, 371, 372(b), 373, 374, 376
and 377 of said Article, title, subheading and subtitle be and the same
are hereby repealed and re-enacted with amendments, to read as
follows:

349. Definitions.

The following terms, whenever used in this subtitle, shall be con-
strued as follows:

(a)    "Member[s]" shall mean one who owns stock in a corpora-
tion or association organized with capital stock or one who holds a
certificate of membership in a corporation or an association organized
without capital stock.

(b)    "Cooperative," as applied to corporations or associations
shall mean that the following principles are adopted and used by
such corporations or associations:

That such associations are operated for the mutual benefit of the
members thereof, and conform to the following requirements:

First, That no member of the association is allowed more than one
vote because of the amount of stock or membership capital he may
own therein;

 

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Session Laws, 1967
Volume 681, Page 1369   View pdf image (33K)
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