MARVIN MANDEL, Governor

1795

trust company appear in §6—135 of this
subtitle.

The provisions of present §69 as they relate
to State banks are included in § 6—121 of this
subtitle.

6-143. STOCK LEDGER.

(A)   LEDGER REQUIRED; PRESUMPTIONS.

(1)   EACH TRUST COMPANY SHALL MAINTAIN A STOCK
LEDGER. THE LEDGER SHALL CONTAIN THE NAME AND ADDRESS OF
EACH STOCKHOLDER AND THE NUMBER OF SHARES OF STOCK HE
HOLDS.

(2)    IN ANY PROCEEDING, THE STOCK LEDGER IS
PRESUMPTIVE EVIDENCE OF THE FACTS STATED IN IT.

(B)   RIGHT OF INSPECTION; REFUSAL.

(1)    ANY STOCKHOLDER, DIRECTOR, OR OFFICER OF
A TRUST COMPANY MAY INSPECT THE STOCK LEDGER DURING USUAL
BUSINESS HOURS.

(2)   FAILURE TO EXHIBIT THE STOCK LEDGER TO AN
INDIVIDUAL ON HIS RIGHTFUL DEMAND SUBJECTS THE OFFICER
RESPONSIBLE FOR THE REFUSAL TO A $50 FORFEITURE WHICH THE
COMMISSIONER SHALL COLLECT AS A COMMON DEBT.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
three sentences of Art. 11, §66 as they relate
to trust companies.

The term "stock ledger" is substituted for
"stock book" to conform to the nomenclature in
Title 2 of this article.

In subsection (a) of this section, the
requirement that the stock ledger contain the
address of each stockholder is added to
correct a probable oversight since the address
is necessary for payment of dividends and
notice to stockholders.

The provisions of present §66 which relate to
voting rights and the manner of voting are
included in §6—141(b) of this subtitle, with
respect to stock of a trust company, and
§6—120(c) of this subtitle, with respect to
stock of a State bank.

The provisions of present § 66 as they relate