738 LAWS OF MARYLAND. [CH. 309

standing stock is not thereby increased; the classification or
reclassification of all or any part of the capital stock; and the
making of any other amendment of the charter that may be
desired, provided that such amendment shall contain only
such provisions as it would be lawful or proper to insert in an
original certificate of incorporation made at the time of mak-
ing such amendment. No amendment of the charter of a cor-
poration shall be valid which changes the terms of any of
the outstanding stock by classification, reclassification or other-
wise, in the absence of a reservation in the charter of the right
to make such amendment, unless such change in the terms
thereof shall have been authorized by the holders of all of
such stock at the time outstanding, by vote at a meeting or in
writing with or without a meeting; and in the case of any
such change of terms of outstanding stock, the articles of
amendment shall, in addition, to other matters required by law,
affirmatively set forth that the holders of such stock have duly
authorized such change of terms. The word "terms" as used
in this section in reference to stock is intended to mean only
the contract rights of the holders thereof as expressed in the
charter and shall be so construed.

26. If an increase of the authorized capital stock of any
corporation shall have been duly authorized, as in Section 24
provided, the articles of amendment shall also set forth: (a)
the amount of capital stock theretofore authorized; (b) the
amount of additional stock authorized; (e) the classes, if any,
into which the additional stock is to be divided, with the pref-
erences, voting powers, restrictions and qualifications of the
newly authorized shares; and (d) the number and par value
of the shares of newly authorized stock, and, if more than one
class, the number and par value of the shares of each class.

34. Every corporation may create two or more classes of
stock with such preferences, voting powers, restrictions and
qualifications thereof not inconsistent with law as shall be
expressed in its charter. It may be provided that the holders
of a certain class or certain classes of stock shall receive and
that the corporation shall be bound to pay fixed annual divi-
dends thereon, to be expressed in the charter, payable quar-
terly, half yearly or yearly, before any dividend shall be set
apart for or paid to the holders of some other class or classes
of stock, and such dividends may be made cumulative; any
class or classes of stock may be preferred as to its or their
distributive share or shares of the assets of the corporation