securing the same by a mortgage of the property of the said corporation, or instead of obtaining money upon mortgage, issue a preferred stock for any amount for which the said corporation may be authorized to issue its bonds, or for any amount. which the said corporation may be authorized to obtain upon mortgage of its property, and may dispose of the said stock by sale, on such terms as it may prescribe, or by permitting the same to be subscribed for, as in the judgment of said corporation may be deemed expedient; and every corporation creating such preferred stock as aforesaid, may execute an agreement under seal, to be acknowledged as conveyances of land are required to be acknowledged, and recorded in the office of the clerk of the circuit court for the county where the principal office of such corporation shall be situated, or in the office of the clerk of the superior court of Baltimore city, in case such office shall be situated in said city, guaranteeing to the purchasers of, or subscribers. to, such preferred stock, a perpetual dividend of six per centum per annum out of the profits of the said corporation, payable yearly or half yearly, as said corporation shall determine, before any dividend is distributed to any of the stockholders of the said corporation, other than the holders of said preferred stock so created; and the holders thereof shall have all the incidents, rights, privileges and immunities, and liabilities, to which the capital stock of said corporation, or the holders thereof, may be entitled or subject; provided, however, that no corporation shall exercise any power under this section, unless the creation of such preferred stock shall be authorized by a general meeting of the stockholders of such corporation; and the said preferred stock shall be and constitute a lien on the franchises and property of such corporation, and have priority over any subsequently created mortgage, or other incumbrance.

Process.

1868, ch 471, sec. 209.

295. Any corporation not chartered by the laws of this State, which shall transact business therein, shall be deemed to hold and exercise franchises within this State, and shall be liable to suit in any of the courts of this State, on any dealings or transactions therein.

Ben Franklin Ins. Co. v. Gillett, 54 Md. 215. Wagner e. Shank, 59 Md. 322. North State Copper Co. o. Field, 64 Md. 153.

1868, ch. 471, sec. 210. 1894, ch. 316.

296. Process issued by any court or justice of the peace of this State, against any corporation incorporated under its laws, may be served on any president, director, manager or other officer of such corporation; and if neither the president nor any of the directors, managers or other officers of such corporation resides in this State, such process may be served anywhere within this State on any agent, attorney or other person in the service of such corporation; and all suits which shall hereafter be brought against any corporation which has been or may be incorporated under the general incorporation laws of this State, shall be brought in the counties or city of Baltimore, as the case may be, in which the certificate of incorporation is required to be and

has been recorded.

N. C. R. W. Co. v. Rider, 45 Md. 24. Balto. & Yorktown T. Co. v. Crowther, 63 Md. 572.

Ibid. sec. 211.

297. Suits may be brought in any court of this State, or before a justice of the peace, against any corporation not incorporated under its laws, but deemed to hold and exercise franchises herein, or against any joint stock company or association doing business in this State by a resident of this State, for any cause of action; and by a plaintiff not a resident of this State, when the cause of action has arisen, or the subject of the action shall be situated in this State; and process in such suits may be served as provided in the preceding section, and also upon any agent of such corporation or joint stock company or association; and in case of service of process on an agent, notice of such process shall be left at the principal office of said corporation, joint stock company or association, if there be such office in this State; provided, nothing in this article shall prevent or affect the issue of attachments against corporations as now or hereafter allowed by law.

Ibid. Myer v. Liverpool Ins. Co., 40 Md. 595. Cromwell v. Royal Canadian Ins. Co., 49 Md. 366. Universal Life Ins. Co. v. Bacchus, 51 Md. 28 Wagner

v. Shank, 59 Md. 322. North State Copper Co. v. Field, 64 Md. 153.

Ibid. sec. 212.

298. If any corporations or joint stock companies embraced in the preceding section, after any liability shall occur within this

State, or after any contract sliall have been made by it with any resident of this State, shall cease to have any agent in this State, and no president, director or manager of such corporation, or joint stock company or association, can be found in this State, then in such case service of any writ or process issuing from the courts of this State, on the person who was last the agent of such corporation or joint stock company in this State, shall be deemed sufficient service, if a copy of such process be served on the president or manager, or two directors of such corporation or joint stock company, wherever they may be found, and an affidavit of such service be made before any person authorized by the laws of this State to take the acknowledgments of deeds.

Northern Central R. W. Co. v. Rider, 45 Md. 24.

1868, ch. 471, sec. 213.

299. If any corporation whatever, upon which process has been served as herein before prescribed, shall fail to appear during the term or rule day for the return of process to which such process shall be returned, or by the second day of the succeeding term or rule day for the return of process, judgment by default shall be entered against such corporation, and the amount of the claim of the plaintiff shall be ascertained by a jury of inquiry or otherwise, as in other cases of judgment by default.

Ibid. sec. 214.

300. When a judgment has been recovered against a corporation, and an execution on such judgment returned nulla bona, the person or body corporate entitled to such judgment may file a bill in equity against all or any persons who may be in any manner indebted to said corporation, either for the stock thereof or on any other account; and if the court shall find such person or persons to be indebted to said corporation, a decree shall pass directing such person so found to be indebted to bring the money into court, to be distributed rateably among the creditors of such corporation, in the same manner that distribution is made on a creditor's bill; and any of the defendants to said bill may pray a trial at law of any issue of fact in said case, which issue shall be sent to a court of law for trial; and the plaintiff may require, by said bill or by another bill, the officers of such corporation to discover,

under oath, who are indebted to said corporation, and the amount and consideration of such indebtedness; and for the purpose of such discovery, all or any of the officers of said corporation may be made defendants, and any of the parties in said causes shall be entitled to an appeal, as allowed in cases in equity; and the said bill may be filed in the circuit court for any county in which any of the directors of such corporation reside, or in the county in which said corporation last had its principal office or place of business, or in the circuit court of Baltimore city, if any of said directors there reside, or if said corporation last had in said city its principal office or place of business.

1868, ch. 471, sec. 215.

301. It shall be sufficient in any suit, pleading or process, either at law or in equity, or before any justice of the peace, by or against any joint stock company or association, to describe the said joint stock company or association by the name or title by which it is commonly known, or by or under which its business is transacted.

Powhatan St. Boat Co. v. Potomac St. Boat Co., 36 Md. 238.

Taxation.

1876, ch. 322.

302. Nothing in this article contained shall be so construed as to bring within any supposed exemption from taxation, State, county or municipal, in the charter of any company desiring to take advantage of any of the provisions in this article contained, any property, real, personal or mixed, owned under or by virtue of any of the provisions of this article, or any stock preferred or otherwise, or any bonds or other evidence of debt issued under or by virtue of any of the provisions of this article.

General Applicability of this Article to all Corporations. 1868, ch. 471, sec. 216.

303. All corporations heretofore formed under the general laws of this State, relating to corporations, or under any special law, are hereby declared to be entitled to the benefit of and to be subject to all the regulations in this article contained, for the

government of the corporation herein referred to, so far as the same be applicable to said several corporations heretofore formed as aforesaid; and shall also have the benefit and be subject to the processes, remedies or proceedings by this article authorized to be taken by or against the corporations herein referred to, so far as the same be applicable to the several corporations heretofore formed as aforesaid.

Goodman v. Jedidjah Lodge, 67 Md. 125.

ARTICLE XXIV.

COSTS.

1. What county liable for in removed 5. Clerks to make annual returns of;

cases.

2. Clerks to keep full accounts of.

3. Cost in county where case tried, first payable.

4. County commissioners to levy for.

penalty.

6. Applicable to Baltimore city.

7. Party acquitted not liable for; ex-
ception in Baltimore city.

8. Equitable plaintiff liable for.
9. Rule security for.

P. G. L., (1860,) art. 27, sec. 1. 1852, ch. 169. sec. 1. 1854, ch. 269. sec. 1. 1. The cost and expenses incident to the trial of actions, issues and presentments removed from one county to another, which are properly chargeable to the county, shall be borne and paid by the county from which the same are removed.

Co. Comm'rs of Howard Co. v. Co. Comm'rs of Frederick Co., 30 Md. 432. Co. Comm'rs of Alleghany Co. v. Co: Comm's of Howard Co., 57 Md. 396.

Ibid. sec. 2. 1852, ch. 169, sec. 2. 1854, ch. 269, sec. 2.

2. The clerks of the several courts to which such cases may be removed shall make and keep a full and accurate account of the said costs and expenses, and shall certify and return the same as well to the county commissioners of the county where said cases originated as to the county commissioners of the county where the same were tried, setting forth in said return the names of the