ART. 23.] PAR VALUE. 307

stock shall be increased or diminished, shall be made out and
signed by the chairman, and such certificate shall be sworn to by
the president, and recorded in the office of the clerk of the
superior court of Baltimore city, if the principal office of said
corporation shall be therein located, or in the office of the clerk
of the circuit court for that county in which said principal office
is located.

1870, ch. 310.

79. Where the par value of the stock of any corporation
created under the general laws of the State of Maryland, has
been, or may hereafter be, reduced by losses, it shall be compe-
tent for the stockholders thereof, in general meeting assembled,
to establish the true value of the stock of such corporation; and
they may also provide for calling in and cancelling the whole or
any part of such stock, and issuing other stock instead thereof, at
such par value as they may decide on, so as to represent the
amount of the true value so established of the stock of such cor-
poration ; and they may also provide for creating and disposing
of additional stock, so as to make up the entire value of the stock
of the corporation, to the amount designated in the certificate of
corporation, or for a greater or less amount, as may be decided by
the stockholders.

Ibid.

80. Notice of such meeting of stockholders shall be given in
the manner required by section 76 of this article; and the pro-
ceedings thereafter shall be similar to those prescribed in sections
77 and 78.

1868, ch. 471, sec. 74.

81. Any corporation heretofore formed under the general
laws of this State, or under any special act, for any purpose for
which a corporation may be formed under this article, may cause
itself to be incorporated under this article; provided, the direc-
tors, managers or trustees thereof give notice to the stockholders
thereof, required by section 76 of this article, containing the par-
ticulars therein set forth in the manner therein provided; and
provided, that at the meeting called in pursuance of such notice,
or at any adjourned meeting, there be present, stockholders rep-
resenting, in person or by proxy, not less than two-thirds of all