ALBERT C. RITCHIE, GOVERNOR. 1207

the issuance of the Stock and/or convertible securities therein
mentioned shall have been authorized.

(5) Such statement, together with a copy thereof, shall be
delivered to the State Tax Commission, which, upon the pay-
ment, and not before, of the recording fees for which provi-
sion is hereinafter made, shall receive the same for record
and endorse thereon the date and time of such receipt and
promptly record the same; and the State Tax Commission shall
forthwith transmit a copy thereof duly certified by it to the
Clerk of the Circuit or Superior Court (according to the loca-
tion of the principal office of the corporation), by whom the
same shall be again recorded. At the time of receiving such
statement for record the State Tax Commission shall collect
recording fees of five dollars, two dollars of which shall be
paid by it for recording the same to the Clerk of the Circuit
or Superior Court to whom a copy of such statement shall be
transmitted for recording, as aforesaid, and for the balance it
shall account quarterly to the Comptroller and pay the same
forthwith to the State Treasurer for the use of the State.
The receipt for record of such statement by the State Tax
Commission shall be conclusive of the payment of the fees
required by law to be paid to it, except in a direct proceeding
for the collection of the same. A duly certified copy of such
statement from the records of the State Tax Commission or
the Circuit or Superior Court shall be prima facie evidence
of the facts therein set forth.

(6) After the receipt for record of such statement by the
State Tax Commission, the corporation may forthwith or
from time to time issue the stock and/or convertible securities
therein mentioned for the consideration therein specified.

44. If empowered so to do by the charter, the board of
directors of any corporation of this State may authorize the
issuance from time to time of shares of its stock of any class
and/or convertible securities for a certain specified considera-
tion or certain specified considerations, subject to such limita-
tions and restrictions, if any, as may be set forth in the charter
or in the by-laws of the corporation. Such authorization, how-
ever, shall not be effective for the purposes of this section unless
such charter shall set forth:

(a) In the case of stock and/or convertible securities author-
ized to be issued for money, the maximum number of shares