§ 8-4-1-11 — Stock certificates; issuance and transfer

Each shareholder shall be entitled to a
certificate, signed by the president or a vice-president and the secretary
or an assistant secretary or the treasurer or an assistant treasurer,
certifying the number of shares of stock owned by him in the company;
which shares shall be deemed personal estate, and shall be transferable
in the manner prescribed in the by-laws of the company; but no shares
shall be transferable until all previous calls thereon shall have been
fully paid in, or the shares shall have been forfeited for the nonpayment
of calls thereon. Where any such certificate is signed by a transfer
agent or transfer clerk and by a registrar, the signature of any such
president, vice-president, secretary, assistant secretary, treasurer or
assistant treasurer upon such certificate may be facsimiles, engraved or
printed. In case any such officer who has signed or whose facsimile
signature has been placed upon such certificate shall have ceased to be
such before such certificate is issued, it may be issued by the company
with the same effect as if such officer had not ceased to be such at the
date of its issue. All certificates, including those heretofore issued,
which are signed in facsimile, as authorized herein, shall be as valid
and effectual for all purposes as if signed by the proper officers.
Formerly: Acts 1852, 1RS, c.83, s.10; Acts 1941, c.120,
s.1.