Volume 796, Page 2874 View pdf image |
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(b) (1) Any notice required by law to be served by personal service on a (2) Service under the Maryland Rules is equivalent to personal service 2-203. (a) Before the issuance of stock or convertible securities, the board of directors (1) Authorizes the issuance; (2) Sets the minimum price or value of consideration for the stock or (3) Fairly describes any consideration other than money [and states: (i) Its actual value as determined by the board of directors; or (ii) That the board of directors has determined that the actual (b) In the absence of actual fraud in the transaction, the value of consideration (c) For purposes of this section, the consideration for stock issued as a stock (d) This section does not apply to the issuance of stock or convertible securities (1) A reclassification of stock effected by amendment of the charter; or (2) A consolidation, merger, or share exchange. (e) If its issuance is authorized in accordance with this subtitle, stock with par 2-211. (a) Each stock certificate shall include on its face:
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Volume 796, Page 2874 View pdf image |
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