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Session Laws, 1975
Volume 716, Page 1543   View pdf image
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MARVIN MANDEL, Governor                               1543

(A) REPRESENTATION OF STOCK HELD.
EACH STOCK CERTIFICATE SHALL INCLUDE ON ITS FACE:

(1)    THE NAME OF THE CORPORATION;

(2)    THE NAME OF THE STOCKHOLDER; ASP

(3)     THE CLASS OF STOCK AND NUMBER OF SHARES
REPRESENTED BY THE CERTIFICATE.

[[(A)]] (B) PREFERENCES, LIMITATIONS, AND RIGHTS.

IF THE CORPORATION HAS AUTHORITY TO ISSUE STOCK OF
MORE THAN ONE CLASS, THE STOCK CERTIFICATE SHALL CONTAIN
ON ITS FACE OR BACK A FULL STATEMENT OR SUMMARY OF:

(1)     THE DESIGNATIONS AND [[THE]] ANY
PREFERENCES, CONVERSION AND OTHER RIGHTS, VOTING POWERS,
RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS, [[AND]]
QUALIFICATIONS, AND TERMS AND CONDITIONS OF REDEMPTION OF
THE STOCK OF EACH CLASS WHICH THE CORPORATION IS
AUTHORIZED TO ISSUE; AND

(2)   IF THE CORPORATION IS AUTHORIZED TO ISSUE
ANY PREFERRED OR SPECIAL CLASS IN SERIES:

(I)  THE DIFFERENCES IN THE RELATIVE RIGHTS
AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE
EXTENT THEY HAVE BEEN SET; AND

(II)   THE AUTHORITY OF THE BOARD OF DIRECTORS
TO SET THE RELATIVE RIGHTS AND PREFERENCES OF SUBSEQUENT
SERIES.

[[(B)]] (C) ALTERNATIVE STATEMENT.

(1) A SUMMARY OF THE INFORMATION REQUIRED BY
SUBSECTION [[(A)]] (B) OF THIS SECTION, AS INCLUDED IN A
REGISTRATION STATEMENT PERMITTED TO BECOME EFFECTIVE
UNDER THE FEDERAL SECURITIES ACT OF 1933, IS AN
ACCEPTABLE SUMMARY FOR THE PURPOSES OF THIS SECTION.

(2) INSTEAD OF A FULL STATEMENT OR SUMMARY,
THE CERTIFICATE MAY STATE THAT THE CORPORATION WILL
FURNISH A FULL STATEMENT OF THE INFORMATION REQUIRED BY
SUBSECTION [[(A)]] (B) OF THIS SECTION TO ANY STOCKHOLDER
ON REQUEST AND WITHOUT CHARGE.

[[(C)]] (D) RESTRICTIONS ON TRANSFERABILITY.

WITHOUT AFFECTING §8-204 OF THE COMMERCIAL LAN
ARTICLE, IF THE CORPORATION WHICH ISSUES THE STOCK
IMPOSES A RESTRICTION ON ITS TRANSFERABILITY, THE STOCK

 

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Session Laws, 1975
Volume 716, Page 1543   View pdf image
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