Nothing in §§ 3101-3105 of this title shall affect or apply to joint stock associations, using a common name, not being ordinary partnerships, which have more than 50 stockholders or members nor to legally incorporated companies.

25 Del. Laws, c. 146, § ?6; 27 Del. Laws, c. 177, § ?6; Code 1915, § ?2644; Code 1935, § ?3116; 6 Del. C. 1953, § ?3107;