§ 2-210

Maryland § 2-210

• Jurisdiction: Maryland
• Article gca: Corporations and Associations
• Title: 2

Text

(a) Except as provided in subsections (b) and (c) of this section, each stockholder is entitled to stock certificates that represent and certify the shares of stock the stockholder holds in the corporation.

(b) A stock certificate may not be issued until the stock represented by it is fully paid.

(c) (1) Unless the charter or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the shares of any or all of its classes or series without certificates.

(2) The authorization under paragraph (1) of this subsection does not affect shares already represented by certificates until they are surrendered to the corporation.

(3) For shares issued without certificates, on request by a stockholder, the corporation shall send the stockholder, without charge, a statement in writing or by electronic transmission of the information required on certificates by § 2–211 of this subtitle.

(d) A corporation may not issue a stock certificate in bearer form.