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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 195   View pdf image (33K)
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ART. 23] LOST CERTIFICATES. 195

destroyed and remaining unpaid. Such issuance and delivery of a new
certificate and the payment of said dividends by the corporation to the
said administrator shall relieve such corporation from any and all
liability whatsoever to any person claiming as the principal, cestui que
trust, assignee, owner or holder of such certificate alleged to be lost or
destroyed or the dividends payable in respect thereto, under the follow-
ing conditions:

(a) After such administrator of such holder of record as agent or
trustee of said certificate of stock has given the aforesaid ten days' notice
in writing to said corporation, he shall cause to be advertised in a news-
paper published in the county or city where he was granted his letters
of administration, once a week for four successive weeks, the fact that
he gave to said corporation the required ten days' notice in writing, and
that a certificate for a certain number of shares of the capital stock of
such corporation were more than thirty years ago issued to his intestate
as agent or trustee, and that it is unknown to him who said principal
or cestui que trust may be, and that no person except the administrator
of such agent or trustee made claim to said certificate for more than
thirty years, and that said certificate has been lost or destroyed, and
.also that the said stock represented by the said lost or destroyed certifi-
cate and all dividends payable in respect thereto are claimed by said
administrator for the purpose of distributing and accounting for the
same to the person or persons entitled thereto, and that further, at least
two weeks after the last advertisement hereof, said administrator, unless
said corporation issues and delivers unto him such new certificate in the
place of the one lost or destroyed and pay over and deliver to him as
such administrator all dividends payable in respect thereto, will insti-
tute suit for the same, and said notice shall warn any and all persons,

except said administrator, to produce to the said corporation on or
before the expiration of two weeks after the last advertisement hereof
.as aforesaid, a statement in writing and under the oath of such claimant
or his administrator, of the origin, circumstances and grounds upon
which his claim as principal or cestui que trust to said stock and

dividends is asserted as well as the reasons for his delay in asserting
title thereto.

(b) If, within said period of time for producing said statement to
said corporation, such statement required as aforesaid, and satisfactory,
under the provisions hereof to said corporations, be not forthcoming, the
said corporation shall issue and deliver to said administrator a new cer-
tificate of stock in the place of that alleged to be lost or destroyed, and
also deliver and pay over to him all dividends payable in respect thereto.

(c) Before making distribution the said administrator shall give
notice once a week for four successive weeks in some newspaper pub-
lished in the county or city, where his letters of administration were
granted, to all persons having any claims to said certificate and the
dividends payable in respect thereto, to file their claims in the Orphans'

 

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The Annotated Code of the Public General Laws of Maryland, 1914
Volume 373, Page 195   View pdf image (33K)
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