304 LAWS OF MARYLAND [CH. 135

for the regulation and management of the affairs of the cor-
poration.

45. (Books and Records. ) (a) Every corporation shall
keep correct and complete books and records of accounts and
of its transactions and minutes of the proceedings of its
stockholders and board of directors and of the executive com-
mittee, if any.

(b) The president of every corporation, or if so provided
by the by-laws some other executive officer thereof, shall pre-
pare or cause to be prepared annually a full and correct state-
ment of the affairs of the corporation, including a balance
sheet and a financial statement of operations for the preceding
fiscal year, which shall be submitted at the annual meeting of
the stockholders and filed within twenty days thereafter at
the principal office of the corporation in the State.

46. (Stock Ledger. ) Every corporation shall maintain, at
its principal office in the State or at such other office or agency
of the corporation as may be specified in the by-laws, an origi-
nal or duplicate stock ledger containing the names and
addresses of all stockholders and the number of shares of each
class held by each stockholder.

47. (Stockholder's Right of Inspection. ) (a) Any stock-
holder of a corporation may, during usual business hours,
inspect and copy the by-laws, the minutes of the proceedings
of the stockholders, the annual statement of the affairs of the
corporation, and any voting trust agreement on file in the
office of the corporation.

(b) Any one or more persons who are and for at least six
months have been stockholders of record of five per cent, in the
aggregate, of the outstanding capital stock of any class of a
corporation of this State:

(1) May, upon written request, inspect and copy, in person
or by agent or attorney, during usual business hours, the
corporation's books of account and the stock ledger.

(2) May present to any officer or resident agent of the
corporation a written request for a statement of its affairs,
and it shall be the duty of the corporation to prepare and to
have available on file at the principal office of the corporation
within the State within twenty days after such request, such
a statement sworn to by the president or a vice-president or
by the treasurer or an assistant treasurer, setting forth in
reasonable detail its assets and liabilities as of a reasonably
current date.