130 LAWS OF MARYLAND. [CH. 134

;, CHAPTER 134.
;; (House Bill 171)

AN ACT to repeal and re-enact with amendments, Section 40
of Article 23 of the Annotated Code of Maryland (1939 Edi-
tion), title "Corporations", -sub-title "Capital Stock'-, to
correct an error.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 40 of Article 23 of the Annotated Code of
Maryland (1939 Edition), title "Corporations", sub-title "Capi-
tal Stock", be and it is hereby repealed and re-enacted, with
amendments, to read as follows:

CAPITAL STOCK.

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 assistant secretary or the treasurer or an as-
sistant 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 signa-
tures 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 limited as to its
transferability or voting powers, or 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, limita-
tion 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, resignation or
otherwise, before such certificate or certificates shall have been
delivered by such corporation, such certificate or certificates
may nevertheless 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.

SEC. 2. And be it further enacted,, That this Act shall take
effect June 1, 1943.

Approved March 23, 1943.