Page:United States Statutes at Large Volume 31.djvu/1336

 ]284 FIFTY-SIXTH CONGRESS. Sess. II. Ch. 854. 1901. Fourth. The number of its trustees, directors, or managers for the _ _ first year of its existence. ,€§fg“°” ‘““°‘p""" Sec. 600. Srennns INCORPORATED.—·UpOH filin their certificates the persons who shall have signed and acknowlet§ged the same and their associates and successors shall be a body politic and corporate, ’l""”°"‘· by the name stated in such certificate; and by that name they and their successors may have and use a common seal, and may alter and change the same at pleasure, and may make by-laws and elect officers and agents, and may take, receive, hold, and convey real and personal estate necessary for the purposes of the society as stated in their certificate. and other real and personal property the clear annual income _ from which shall not exceed in value twenty-five thousand dollars: §Q",§Q.§;°gg,O,, ,,0,,, P2·02·ZdccZ, however, That this section shall not be construed to exempt ¤¤¤¤*i<*¤· any property from taxation in addition to that now specifically exempted by law. . T'““€"S‘ Sec. 601. TnUsTnns.—Such incorporated society may elect its trustees, directors, or managers at such time and place and in such manner as may be specified in its by-laws, who shall have the control and management of the affairs and funds of the society, and a majority of whom shall be a quorum for the transaction of business; and whenever any vacancy shall happen in such board of trustees, directors, or managers the vacancies shall be filled in such manner as shall be provided by the by-laws of the society. R€i“°°¤’°'**”i°“* Sec. 602. Rn1NooRroRAT1oN.—The trustees, directors, or stockholders of any existing benevolent, charitable, educational, musical, literary, scientific, religious, or missionary corporation, includin societies formed for mutual improvement, may, by conforming to the requirements herein, reincorporate themselves, or continue their existing corporate powers under this subchapter, or may change their name, stating in their certificate the original name of such corporation as well as their new name assumed; and all the property and effects of such existing corporation shall vest in and belong to the corporation so reincorporated or continued. ,g1_;QfP€"Y·h°Wm““‘ Sec. 603. Pnornrrrr, How MANAGnD.—Any property of the corporation may be leased, encumbered by mortgage or deed of trust in the nature of a mortgage, or sold and conveyed absolutely, when authorized by a vote of the majority of the shares of stock, if the same be a stock corporation, or by a vote of the majority of the directors, managers, or trustees, if the same be not a stock corporation, at a meeting called for the purpose, the proceedings of which meeting shall be duly entered in the records of the corporation, and the roceeds arisin therefrom shall be applied or invested for the use and) benefit of sucg corporation. ,,(§‘f“‘° "f °°‘p°“" Sec. 604. NADIE or oon1>onA*r1oN.-—-The provisions of this subchapter shall not extend or apply to any association or individual who shall in the certificate filed with the recorder of deeds use or specify a name or style the same as that of any other incorporated body in the District. Sunonarzrnn Form. ,,§§§‘,§§§Q*{?“,’§‘?§;,$§Q MANUFACTURING, AGRICULTURAL, MINING, MECHAN- $§:¤g¤¤*;j;>g;·cg;*j,‘{;· ICAL, INSURANCE, MERCANTILE, TRANSPORTATION, transportation, mari MARKET, AND SAVINGS BANK CORPORATIONS. ket, apspdsgaégngs bank c0<?<§¤¤¤¤w- Sec. 605. CnR·m12·1cA*rn.——Any three or more persons who desire to form a company for the purpose of carrying on any enterprise or business which may be lawfully conducted by an individual, excepting banks of circulation or discount, corporations to buy, sell, or deal with ’ real property, railroads, and such other enterprise or business as may be otherwise specially provided for in this code, may make, sign, and