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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 682   View pdf image (33K)
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682 ARTICLE 23.

of the person to whom the said certificate was issued as agent or trustee,
has made claim to it against said corporation for more than thirty years,
and the said corporation has been a going concern for more than ten years
during the aforesaid period of thirty years, and has declared more than five
dividends upon its capital stock during the last thirty years, and the said
dividends declared upon the shares of stock alleged to be lost or destroyed,
have not been paid to any person, and said agent or trustee the holder of
record of said certificate is dead, then and in such case the administrator
of the person to whom the alleged lost or destroyed certificate was issued as
agent or trustee as aforesaid, and still being the holder of record of said
certificate, shall after ten days' written notice to said corporation, demand-
ing the issuance of a new certificate of stock to him as such administrator,
be entitled to receive such new certificate in the place of the one alleged to
be lost or destroyed in his name as administrator, and said administrator
shall also be entitled to receive all dividends that may have been declared
upon such certificate or number of shares of stock alleged to be lost or de-
stroyed and remaining unpaid. Such issuance and delivery of a new cer-
tificate 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, as-
signee, owfner or holder of such certificate alleged to be lost or destroyed or
the dividends payable in respect thereto, under the following conditions:

(a) After such administrator of such holder of record as agent or trus-
tee 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 newspaper
published in the county or city where he was granted his letters of adminis-
tration, 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 certificate and all dividends payable in respect thereto
are claimed by said administrator for the purpose of distributing and ac-
counting for the same to the person or persons entitled thereto, and that
further, at least two weeks after the last advertisement hereof, said admin-
istrator, 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
institute 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 adminis-
trator, 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.

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 682   View pdf image (33K)
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