1520

LAWS OF MARYLAND

[Ch. 311

new language derived without substantive
change from Art. 23, §4(a). The section is
separated from the remainder of §4 to allow
for better organization of the title, and to
place it in the position of prominence it
deserves.

Subsection (b) of this section presently
appears as Art. 23, §131(b).

The requirement that each incorporator be an
"adult" is substituted for the present
requirement that he be "at least eighteen
years of age"; in this regard, see Art. 1,
§24.

References to the filing fees charged by the
Department are deleted as unnecessary in light
of §1-201 of this article.

The only other changes are in style.

2-103. GENERAL POWERS.

UNLESS OTHERWISE PROVIDED BY LAW OR ITS CHARTER, A
MARYLAND CORPORATION HAS THE GENERAL POWERS, WHETHER OR
NOT THEY ARE SET FORTH IN ITS CHARTER, TO:

(1)     HAVE PERPETUAL EXISTENCE, ALTHOUGH EXISTENCE
MAY BE LIMITED TO A SPECIFIED PERIOD IF THE LIMITATION
IS STATED IN A CHARTER PROVISION ADOPTED AFTER MAY 31,
1908;

(2)    SUE , BE SUED, COMPLAIN, AND DEFEND IN ALL
COURTS;

(3)    HAVE, USE, ALTER, OR ABANDON A CORPORATE SEAL;

(4)      TRANSACT ITS BUSINESS, CARRY ON ITS
OPERATIONS, AND EXERCISE THE POWERS GRANTED BY THIS
ARTICLE IN ANY STATE, TERRITORY, DISTRICT, AND
POSSESSION OF THE UNITED STATES AND IN ANY FOREIGN
COUNTRY;

(5)       MAKE CONTRACTS AND GUARANTEES, INCUR
LIABILITIES, AND BORROW MONEY;

(6) SELL, LEASE, EXCHANGE, TRANSFER, CONVEY,
MORTGAGE, PLEDGE, AND OTHERWISE DISPOSE OF ANY OR ALL OF
ITS ASSETS;

(7) ISSUE BONDS, NOTES, AND OTHER OBLIGATIONS AND
SECURE THEM BY MORTGAGE OR DEED OF TRUST OF ANY OR ALL
OF ITS ASSETS;