1524

LAWS OF MARYLAND

[Ch. 311

(6) A PROVISION WHICH DIVIDES ITS DIRECTORS
INTO CLASSES AND SPECIFIES THE TERM OF OFFICE OF EACH
CLASS; AND

(7) A PROVISION FOR MINORITY REPRESENTATION
THROUGH CUMULATIVE VOTING IN THE ELECTION OF DIRECTORS
AND THE TERMS ON WHICH CUMULATIVE VOTING RIGHTS MAY BE
EXERCISED.

REVISOR'S NOTE: The bulk of this section presently
appears as Art. 23, §4 (b) and (c).

Subsections (b) (4) and (5) of this  section are

new language derived without     substantive

change from Art. 23, §42(b) and (c)
respectively.

Subsection (b) (6) of this section is new
language derived without substantive change
from the first clause of Art. 23, §52(c). The
remainder of §52(c) now appears in §§ 2—110
and 2—404 of this article.

Subsection (b)(7) of this section presently
appears as the last sentence of Art. 23,
§43(b)(3).

In subsection (a)(1) of this section, the
requirement that the articles contain the
"given" name of each incorporator is deleted
as unnecessary and redundant.

In subsection (a) (8) of this section,
reference to the requirement that a
corporation have at least three directors is
deleted. Sec. 2-402 now contains this
requirement. Furthermore, in the case of a
close corporation formed under Title 4, the
corporation need have only one initial
director (§4—301) and subsequently, may
eliminate the board of directors entirely.

Reference to the requirement that a principal
office and resident agent be located "in this
State" is deleted. Title 1 now contains this
requirement.

The only other changes are in style.

For the definition of the term "address," see
§1-101.

2-10 5. CHARTER PROVISIONS RELATING TO CAPITAL STOCK.