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§ 2-514. Beneficial owners, certification procedure

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2017

West's Annotated Code of Maryland
Corporations and Associations
Title 2. Corporations in General--Formation, Organization, and Operation (Refs & Annos)
Subtitle 5. Stockholders
Effective: October 1, 2017
MD Code, Corporations and Associations, § 2-514
§ 2-514. Beneficial owners, certification procedure
Currentness
Certification
(a) The charter or bylaws of a corporation may provide and, unless the charter or bylaws provide otherwise, the board of directors may adopt by resolution a procedure by which a stockholder of the corporation may certify in writing to the corporation that any shares of stock registered in the name of the stockholder are held for the account of a specified person other than the stockholder.
Contents of resolution
(b) The resolution shall set forth:
(1) The class of stockholders who may certify;
(2) The purpose for which the certification may be made;
(3) The form of certification and the information to be contained in it;
(4) If the certification is with respect to a record date or closing of the stock transfer books, the time after the record date or closing of the stock transfer books within which the certification must be received by the corporation; and
(5) Any other provisions with respect to the procedure which the board considers necessary or desirable.
Effect
(c) On receipt of a certification which complies with the procedure adopted by the board in accordance with this section, the person specified in the certification is, for the purpose set forth in the certification, the holder of record of the specified stock in place of the stockholder who makes the certification.

Credits

Added by Acts 1976, c. 567, § 4. Amended by Acts 2014, c. 45, § 5; Acts 2017, c. 674, § 2, eff. Oct. 1, 2017.
MD Code, Corporations and Associations, § 2-514, MD CORP & ASSNS § 2-514
Current with legislation effective through October 1, 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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