The trustees elected and their successors shall be a corporation by the name adopted and certified. The corporation shall have perpetual succession with all the incidents and franchises of a corporation aggregate and may purchase, receive, hold, mortgage and enjoy property, real and personal, for the use of the society or congregation, their ministers or members or for schools, almshouses or burying grounds. The act of a majority of the trustees shall be valid.

26 Del. Laws, c. 89, § ?4; Code 1915, § ?2167; Code 1935, § ?2474; 27 Del. C. 1953, § ?102;

Terms Used In Delaware Code Title 27 Sec. 102

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.