MARVIN MANDEL, Governor

1705

(C) CORPORATE EXISTENCE.

WHEN THE DEPARTMENT ACCEPTS THE ARTICLES OF
INCORPORATION FOR RECORD, THE TRUSTEES BECOME A BODY
CORPORATE UNDER THE NAME STATED IN THE ARTICLES.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23, §§
263 and 269(2).

The word "plan" is defined in §5—301 of this
subtitle.

The provisions of present Art. 23, §269, which
deal with the duties of the Department when
articles of incorporation are filed,
disposition of fees, and the evidentiary
effects of certified copies of the recorded
document, are deleted since these provisions
are adequately covered in Title 1 of this
article.

5-305. CONVEYANCE OF ASSETS ON FORMATION OF RELIGIOUS
CORPORATION.

IF A CHURCH FORMS A RELIGIOUS CORPORATION, ANY
ASSETS HELD IN TRUST FOR THE CHURCH BY ANY PERSON SHALL
BE CONVEYED IMMEDIATELY TO THE RELIGIOUS CORPORATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 23, §267.

The word "assets" is substituted for "lands,
goods, and chattels." "Assets" is defined in
§1—101 of this title to include all such
property.

5-306. POWERS OF TRUSTEES.

(A) GENERAL POWERS.

THE TRUSTEES HAVE THE POWER TO:

(1)    HAVE PERPETUAL EXISTENCE UNDER THE NAME
OF THE RELIGIOUS CORPORATION;

(2)    PURCHASE, TAKE, OR ACQUIRE BY GIFT,
BEQUEST, OR IN ANY OTHER MANNER AND HOLE ANY INTEREST IN
ANY ASSETS IN THE STATE;

(3) USE, LEASE, MORTGAGE, SELL, OR CONVEY THE
ASSETS IN THE MANNER THAT THE TRUSTEES CONSIDER MOST
CONDUCIVE TO THE INTEREST OF THE RELIGIOUS CORPORATION;