2714                                          LAWS OF MARYLAND                                      Ch. 720

(b) Any remaining capital stock of which is held by
individuals who have purchased [such capital stock] IT at or
prior to the time of their taking office as directors of [such]
THE corporation and who have purchased only so much of [such] THE
capital stock as [may be] IS necessary to permit them to qualify
as [such] directors.

(4)  A "custodian bank" is [any] A bank or trust company
[which] THAT is supervised and examined by state or federal
authority having supervision over banks and [which] is acting as
custodian for a clearing corporation.

(5)  Other definitions applying to this title or to
specified subtitles thereof and the sections in which they appear
are:

"Adverse claim." § [8-301] 8-302.

"Bona fide purchaser." § 8-302.

"Broker." § 8-303.

"DEBTOR." § 9-105.

"FINANCIAL INTERMEDIARY." § 8-313.

"Guarantee of the signature." § 8-402.

"INITIAL TRANSACTION STATEMENT." § 8-408.

"INSTRUCTION." § 8-308.

"Intermediary bank." § 4-105.

"Issuer." § 8-201.

"Overissue." § 8-104.

"SECURED PARTY." § 9-105.

"SECURITY AGREEMENT." § 9-105.

(6)  In addition Title 1 contains general definitions and
principles of construction and interpretation applicable
throughout this title.

8-103.

A lien upon a security in favor of an issuer thereof is
valid against a purchaser only if:

(A) THE SECURITY IS CERTIFICATED AND the right of the
issuer to [such] THE lien is noted conspicuously [on the
security] THEREON; OR