796 ARTICLE 23

amendment, any holder of stock in the corporation issued prior to the
making of such amendment, who has not voted for or consented in writing
to such amendment or such sale, lease, exchange or transfer, may, within
twenty days after notice thereof shall have been given to him by leaving
the same with him or at his usual place of business, or by mailing it, post-
age prepaid, and addressed to him at his address as it appears upon the
books of the corporation, (but not afterwards) make upon his corporation
a written demand for payment for his stock, and in such event such stock-
holder shall have all of the rights and remedies conferred upon dissenting
stockholders by Section 38; but otherwise and in all other respects any
such sale, lease, exchange or transfer of all the property and assets of a cor-
poration as an entirety or substantially as an entirety, including its good
will and franchises, may be made pursuant to and in conformity with the
authority contained in its charter, and without reference to or compliance
with any of the provisions of Section 38.
See footnote to sec. 9.

Capital Stock.

An. Code, 1924, sec. 37. 1912, sec. 33. 1908, ch. 240, sec. 33. 1929, ch. 439.

40. Each stockholder shall be entitled to a certificate which shall be
signed by the president or a vice-president and by the secretary or an assis-
tant secretary or the treasurer or an assistant treasurer of the corporation
and sealed with its seal, which shall certify the number of shares owned
by him in such corporation. A certificate shall be deemed to be so signed
and sealed whether the signatures be manual or facsimile signatures
and whether the seal be a facsimile seal or any other form of seal; this
sentence shall not be construed as implying that in the absence of this
sentence the requirements of the preceding sentence could properly be
otherwise construed. All certificates for stock which is restricted or lim-
ited as to its transferability or voting powers, of which is preferred or
limited as to its dividends, or as to its share of the assets upon dissolution,
shall have a statement of such restriction, limitation or preference or a
summary thereof plainly stated thereon. In case any officer or officers
who shall have signed any such certificate or certificates shall cease to be
such officer or officers of such corporation, whether because of death, resig-
nation or otherwise, before such certificate or certificates shall have been
delivered by such corporation, such certificate or certificates may never-
theless be adopted by such corporation and be issued and delivered as
though the person or persons who signed such certificate or certificates had
not ceased to be such officer or officers of such corporation.

As to the capital stock of railroad companies, see sec. 201, et seq.

An. Code, 1924, sec. 374. 1935, ch. 214.

41. Any corporation of this State operating a radio station under
license from the Federal Government and/or any corporation of this State
controlling directly or individually any corporation, joint-stock company
or association which operates such a radio station may, by its by-laws,
restrict and/or limit the transferability to and ownership by aliens of
shares of its capital stock, whether issued or to be issued, and/or the right
of aliens to vote the same; and any such restriction or limitation or a
summary thereof need be stated only on certificates for such shares issued
after the adoption of such by-laws. The word "aliens" as used in this
section includes the following and their representatives: an alien, a foreign
government, a corporation, joint-stock company or association organized