674 ARTICLE 23.

An. Code, sec. 40. 1910, ch. 73, sec. 37C (p. 67).

53. Nothing in sections 51 to 73 shall be construed as forbidding a
corporation

(a) To recognize the exclusive right of a person registered on its books
as the owner of shares to receive dividends and to vote as such owner, or

(5) To hold liable for calls and assessments a person registered on its
books 'as the owner of shares.

An. Code, sec. 41. 1910, ch. 73, sec. 37D (p. 68).

54. The title of a transferee of a certificate under a power of attorney
or assignment not written upon the certificate, and the title of any person
claiming under such transferee, shall cease and determine if, at any time
prior to the surrender of the certificate to the corporation issuing it, another
person for value in good faith, and without notice of the prior transfer,
shall purchase and obtain delivery of such certificate, with the indorsement
of the person appearing by the certificate to be the owner thereof, or shall
purchase and obtain delivery of such certificate and the written assignment
or power of attorney of such person, though contained in a separate
document.

An. Code, sec. 42. 1910, ch. 73, sec. 37E (p. 68).

55. The delivery of a certificate to transfer title, in accordance with
the provisions of section 51, is effectual, except as provided in section 53,
though made by one having no right of possession and having no authority
from the owner of the certificate or from the person purporting to transfer
the title.

An. Code, sec. 43. 1910, ch. 73, sec. 37F (p. 68).

56. The indorsement of a certificate by the person appearing by the
certificate to be the owner of the shares represented thereby is effectual,
except as provided in section 57 though the indorser or transferor

(a) Was induced by fraud, duress or mistake to make the indorsement
or delivery; or

(b) Has revoked the delivery of the certificate, or the authority given
by the indorsement, or delivery of the certificate; or

(c) Has died or become legally incapacitated after the indorsement,
whether before or after the delivery of the certificate; or

(d) Has received no consideration.

An. Code, sec. 44. 1910, ch. 73, sec. 37G (p. 68).

57. If the indorsement or delivery of a certificate

(a) Was procured by fraud or duress; or

(b) Was made under such mistake as to make the indorsement or de-
livery inequitable; or

If the delivery of a certificate was made

(c) Without authority from the owner; or

(d) After the owner's death or legal incapacity, the possession of the
certificate may be reclaimed and the transfer thereof rescinded; unless