COHPOEATIONS. 657

evidence of the payment of the recording fees and the bonus tax, if any,
required by law to be paid to it, except in a direct procee'ding by the State.

Amendment proceedings held abortive because the proposed amendment was not
acknowledged and recorded as required by secs. 51, 52, and 55 of the Code of 1904.
Morgan v. Landstreet, 109 Md. 585. Cf. Brown v. Maryland Telephone Co.. 101
Md. 581; Windsor v. Bandel, 40 Md. 175.

See notes to sec. 28.

An. Code, sec. 26. 1904, sec. 86. 1888, sec. 78. 1868, ch. 471, sec. 73. 1908, ch. 240, sec. 26.
1916, ch. 596, sec. 26. 1922, ch. 309, sec. 26.

30. If an increase of the authorized capital stock of any corporation
shall have been duly authorized, as in Section 28 provided, the articles of
amendment shall also set forth: (a) the amount of capital stock theretofore
authorized; (b) the amount of additional stock authorized; (e) the
classes, if any, into which the additional stock is to be divided, with the
preferences, voting powers, restrictions and qualifications of the newly
authorized shares; and (d) the number and par value of the shares of newly
authorized stock, and, if more than one class, the number and par value of
the shares of each class.

Cited but not construed in Perkins v. LeViness, 134 Md. 265.

As to an increase of the capital stock of railroad companies, see sec. 201.

An. Code, sec. 27. 1904, sec. 86. 1888, sec. 78. 1868, ch. 471, sec. 73. 1908, ch. 240, sec. 27.

1916, ch. 596, sec. 27.

31. If a reduction of the authorized but unissued capital stock of any
corporation shall have been duly authorized as in Section 28 provided, the
articles of amendment shall also set forth: (a) the amount of capital stock
theretofore authorized and the number and par value of the shares and,
if more than one class, the amounts of each class and the number and par
value of the shares of each class; (b) the amount of capital stock issued
and, if more than one class, the amounts of each class; (e) the amount of the
reduction of authorized but unissued stock, specifying in which class or
classes, if more than one class, the reduction is to be effected and the
amount of the reduction of each class; and (d) the number and par value
of the shares of each class as reduced.

In the absence of express authority, a corporation in this state has no power to
purchase its own shares, and the amount of the capital stock of a corporation can-
not be diminished save as provided in this article. Peninsula Trust Co. v. Johnson,
128 Md.539.

As to the calling in and cancellation of the stock of an insurance, safe deposit or
fidelity company, see sec. 150.

See sec. 77.

An. Code, sec. 28. 1904, sec. 87. 1888, sec. 79. 1870, ch. 310. 1908, ch. 240, sec. 28.

1916, ch. 596, sec. 28.

32. When by a reduction of the number and/or par value of the shares
of stock of a corporation, the amount of stock issued is thereby reduced,
the stock representing the difference between the amount theretofore
issued and the amount of the stock issued as thereby reduced, shall be
treated as authorized but unissued stock of the corporation and until the
classification or classifications thereof be changed shall retain the classifi-
cation or classifications obtaining before the reduction. No reduction of