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§ 2-210. Stock certificates, issuance

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2023

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 2. Issuance of Securities
Effective: October 1, 2023
MD Code, Corporations and Associations, § 2-210
§ 2-210. Stock certificates, issuance
Entitlement
(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.
Timing
(b) A stock certificate may not be issued until the stock represented by it is fully paid.
Issuance without certificates
(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.
Stock certificate in bearer form
(d) A corporation may not issue a stock certificate in bearer form.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1976, c. 567, § 2; Acts 1986, c. 720; Acts 1993, c. 624; Acts 1997, c. 14, § 1, eff. April 8, 1997; Acts 2008, c. 292, § 1, eff. June 1, 2008; Acts 2019, c. 288, § 1, eff. Oct. 1, 2019; Acts 2023, c. 560, § 1, eff. Oct. 1, 2023.
Formerly Art. 23, § 27.
MD Code, Corporations and Associations, § 2-210, MD CORP & ASSNS § 2-210
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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