1120 LAWS OF MARYLAND [ CH. 545

(a) In the case of stock and/or convertible securities
authorized to be issued for money, the maximum number of
shares and/or the maximum amount of convertible securities
authorized to be so issued and the minimum price to be re-
ceived for each share of each class or the minimum price to
be received for a given number of shares of one or more classes
and/or for a given amount of convertible securities as the
case may be.

(b) In the case of stock and/or convertible securities
authorized to he issued for a consideration other than money,
the number of shares of eacli class and/or the amount of con-
vertible securities authorized to be issued therefor, a particu-
lar description of such consideration, showing its nature and
character, and the actual value of such consideration as fixed
by the incorporators.

(c) The terms in detail upon which any convertible secur-
ities authorized to be issued are convertible into stock of
the corporation.

35D. The charter of any corporation of this State incor-
porated on or after June 1, 1920, may empower the board of
directors thereof to authorize the issuance from time to time
of shares of its stock without par value of any class and
securities convertible into shares of its stock without par
value of any class for such considerations as said board of
directors may deem advisable, subject to such limitations and
restrictions, if any, as may be set forth in the charter or in
the by-laws of the corporation. The board of directors shall
by resolution state its opinion of the actual value of any con-
sideration other than money for which it authorizes shares
of stock without par value or securities convertible into shares
of stock without par value to be issued, unless such value
shall have been fixed by the charter.

35E. There shall be no individual liability upon any sub-
scriber to, or holder of, any stock of any corporation of this
State, beyond his obligation to the corporation or its receiver,
trustee or other person winding up its affairs, to comply with
the terms of the contract of subscription, and any and all
stock for which the agreed consideration shall have been paid
or delivered shall be fully paid and non-assessable stock of
the corporation, provided, however, that nothing in this Sec-
tion shall be taken or construed as limiting or affecting the