756 LAWS OF MARYLAND [CH. 405

class or a statement that such shares are without par value
and, in the case of shares having par value, the aggregate
par value of all such shares of all classes.

(3) If the shares are divided into classes, a description
of each class with the preferences, conversion and other
rights, voting powers, restrictions, limitations as to divi-
dends, and qualifications, of each class as increased or a
statement that such terms thereof are as set forth in the
charter.

14. (Charter Provisions), (a) Every corporation of
this State by its charter may provide:

(1) For one or more classes of stock and the voting
rights thereof and any restrictions on or denial of such
rights.

(2) As to each class of stock, either the par value of the
shares or that the shares are without par value.

(3) That the corporation shall set apart for or pay to
the holders of a certain class or certain classes of stock,
dividends thereon at such rates, or in such amounts, and
at such times as specified, before any dividends shall be set
apart for or paid to the holders of some other class or
classes of stock, and such dividends may be made cumula-
tive, cumulative to a limited extent, or non-cumulative.

(4) That any class of stock is preferred over other
classes of stock as to its distributive share of the assets upon
voluntary or involuntary liquidation of the corporation,
and the amount or amounts of such preference.

(5) That one or more classes of stock, as specified, may
be redeemed at the option of the corporation or of the
holders of such stock and the terms and conditions of re-
demption.

(6) That one or more classes of stock, as specified, shall
be convertible into shares of stock of one or more other
classes and the terms and conditions upon which the same
shall be so convertible.

(7) That bonds, notes, debentures or other obligations
issued by the corporation shall be convertible into shares
of stock of one or more classes and the terms and conditions
upon which the same shall be so convertible.

(8) That the holders of any bonds, notes, debentures or
other obligations, issued or to be issued by the corporation,