1532                                             LAWS OF MARYLAND                       [Ch. 311

EACH CORPORATION SHALL KEEP CORRECT AND COMPLETE;

(1) BOOKS AND RECORDS OF ITS ACCOUNTS AND
TRANSACTIONS: AND

(2)______MINUTES OF THE PROCEEDINGS OF ITS

STOCKHOLDERS AND BOARD OF DIRECTORS AND OF ANY EXECUTIVE
OR OTHER COMMITTEE WHEN EXERCISING ANY OF THE POWERS OF
THE BOARD OF DIRECTORS.

(B) FORM OF RECORDS AND MINUTES.

(1)    THE BOOKS AND RECORDS OF A CORPORATION
MAY BE IN WRITTEN FORM OR IN ANY OTHER FORM WHICH CAN BE
CONVERTED WITHIN A REASONABLE TIME INTO WRITTEN FORM FOR
VISUAL INSPECTION.

(2)    MINUTES SHALL BE RECORDED IN WRITTEN
FORM BUT MAY BE MAINTAINED IN THE FORM OF A REPRODUCTION.

SUBTITLE 2. ISSUANCE OF SECURITIES.

2-201. POWER TO ISSUE STOCK AND CONVERTIBLE SECURITIES.

SUBJECT TO THE PROVISIONS OF THIS SUBTITLE, A
CORPORATION FROM TIME TO TIME MAY ISSUE:

(1)   STOCK OF ANY CLASS AUTHORIZED BY ITS
CHARTER; AND

(2)    SECURITIES CONVERTIBLE INTO STOCK OF ANY
CLASS AUTHORIZED BY ITS CHARTER.

(B) EFFECT OF AUTHORIZATION OF CONVERTIBLE
SECURITIES.

THE AUTHORIZATION OF STOCK CONVERTIBLE INTO OTHER
STOCK OR SECURITIES CONVERTIBLE INTO STOCK CONSTITUTES AN
AUTHORIZATION OF THE STOCK INTO WHICH THE STOCK OR
SECURITIES ARE CONVERTIBLE, WITHOUT FURTHER SPECIFIC
AUTHORIZATION IN THE CHARTER.

REVISOR'S NOTE: Subsection (a) of this section
presently appears as Art. 23, §20(a).

Subsection (b) of this section synthesizes
without substantive change the provisions
presently appearing in Art. 23, §18(c) and
§20(f).

The only changes are in style.

It should be noted that Title 11 of this
article, the Maryland Securities Act, may