Section 2-210 - Issuance of stock certificate. - Maryland Statutes

§ 2-210. Issuance of stock certificate.
 

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

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

(c)  Issuance of certain shares without certificates.-  

(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 written statement of the information required on certificates by § 2-211 of this subtitle. 
 

[An. Code 1957, art. 23, § 27; 1975, ch. 311, § 2; 1976, ch. 567, § 2; 1986, ch. 720; 1993, ch. 624; 1997, ch. 14, § 1; 2008, ch. 292.]