THEODORE R. MCKELDIN, GOVERNOR 305

(3) May, in the case of any corporation which does not
maintain the original or a duplicate stock ledger at its prin-
cipal office in the State, present a written request to any
officer or resident agent of the corporation for a list of its
stockholders; and it shall be the duty of the corporation to
prepare and to have available on file at the principal office of
the corporation in the State, within twenty days after such
request, a list containing the names and addresses of all stock-
holders and the number of shares of each class held by each
stockholder, certified to as correct by an officer of the corpora-
tion or by the stock transfer agent or the registrar.

(c) Any holder of a certificate of a voting trust conform-
ing to the provisions of this Article shall have the same rights
under this section as any stockholder of the corporation.

DIRECTORS AND OFFICERS

48. (Board of Directors. ) (a) The business and affairs of
every corporation of this State shall be managed by a board
of directors. The board of directors may exercise all the
powers of the corporation, except such as are by law or the
charter or the by-laws conferred upon or reserved to the stock-
holders. Directors need not be stockholders in the corpora-
tion unless the charter or the by-laws so provide. The charter
or the by-laws may prescribe other qualifications for directors.

(b) Until the first annual meeting of stockholders or until
successors are duly elected and qualify, the board shall con-
sist of the persons named as such in the charter. At the first
annual meeting of stockholders and at each annual meeting
thereafter, the stockholders shall elect directors to hold office,
except as authorized by sub-section (c) hereof, until the next
succeeding annual meeting or until their successors are elected
and qualify.

(c) Every corporation may, by its charter or by-laws, divide
its directors into classes and prescribe the tenure of office of
the several classes; but no class shall be elected for a period
shorter than that from the time of the election of such class
until the next annual meeting and thereafter for a period
shorter than the interval between annual meetings, or for a
period longer than five years, and the term of office of at least,
one class shall expire each year.

(d) At any meeting of stockholders, duly called and at
which a quorum is present, the stockholders may, by the affirm-
ative vote of the holders of a majority of the votes entitled to
be cast thereon, remove any director or directors from office
and may elect a successor or successors to fill any resulting
vacancies for the unexpired terms of removed directors.