MARVIN MANDEL, Governor

1797

IT WITH FULL CONSIDERATION; OR

(II) RECEIVED IT BY INHERITANCE, BEQUEST,
SURVIVORSHIP, DISTRIBUTION, OR GIFT; OR

(2) IF THE CHALLENGED VOTER IS VOTING BY
PROXY OR POWER OF ATTORNEY:

(I)   THAT HE BELIEVES HIS PRINCIPAL PURCHASED
AND PAID OR SECURED PAYMENT FOR IT WITH FULL
CONSIDERATION; OR

(II)  THAT, TO THE BEST OF HIS KNOWLEDGE AND
BELIEF, HIS PRINCIPAL IS THE BONA FIDE OWNER OF THE
STOCK, HAVING RECEIVED IT BY INHERITANCE, BEQUEST,
SURVIVORSHIP, DISTRIBUTION, OR GIFT.

(C) PLEDGOR MAY VOTE STOCK.

THE PROVISIONS OF THIS SECTION DO NOT PREVENT A
STOCKHOLDER FROM VOTING ANY SHARE OF HIS STOCK WHICH IS
PLEDGED IN GOOD FAITH FOR LOAN, BUT WHICH HAS NOT BEEN
SOLD.

REVISOR'S NOTE: This section is derived without
substantive change from Art. 11, §106 as it
relates to trust companies.

In subsection (a) of this section, the term
"stock ledger" is used to conform with §6—143
of this subtitle.

In subsection (b) of this section, the present
reference to receipt of stock by "Marriage" is
deleted as obsolete. The term "survivorship"
is added to list completely the ways in which
stock may be obtained.

The term "affirmation" is deleted as
unnecessary in light of Art. 1, §9 of the
Code.

The provisions of present §106 as they relate
to State tanks are included in §6—124 of this
subtitle.

6-146. DEBT INSTRUMENT.

(A) GENERAL RULE.

IF THE COMMISSIONER APPROVES, A TRUST COMPANY MAY
ISSUE, SELL, OR HYPOTHECATE ITS DEBT INSTRUMENTS
REPAYABLE ON THE TERMS AND BEARING THE RATE OF INTEREST,
IF ANY, STATED IN THE DEBT INSTRUMENT.