(a) Contents--The shares of an institution shall be represented by share certificates which shall in every case contain:

and if the institution is authorized to issue shares of more than one class, the certificate shall contain on the face or back either a full or a summary statement, or a statement that the institution will furnish to any shareholder upon request and without charge a full statement, of the designations, preferences, limitations and relative rights of the shares of each class authorized to be issued and, if the institution is authorized to issue any class in series, the variations in the relative rights and preferences between the shares of each such series so far as the same have been fixed and determined and the authority of the board of directors to fix and determine the relative rights and preferences of subsequent series.

(b) Execution--Every share certificate shall be signed by the president and secretary or by such officers as the by-laws may provide, but if the certificate is signed by a transfer agent or a registrar, the signature of any officer of the institution on the certificate may be a facsimile, engraved or printed.

(c) Signature of former officer--In case any officer who has signed or whose facsimile signature has been placed on any share certificate shall have ceased to be such officer before the certificate is issued, it may be issued by the institution with the same effect as if the officer had not ceased to be such at the date of its issue.

(d) Right to certificate--Every shareholder of record shall be entitled to a share certificate representing the shares owned by him but a certificate shall not be issued by an institution to a shareholder until the shares represented thereby have been fully paid for.