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Maryland Code, Corporations and Associations § 2-213

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(a) Unless the bylaws provide otherwise, the board of directors of a corporation may determine the conditions for issuing a new stock certificate in place of one which is alleged to have been lost, stolen, or destroyed.

(b) In its discretion, the board may require the owner of the certificate to give bond, with sufficient surety, to indemnify the corporation against any loss or claim arising as a result of the issuance of a new certificate.

(c) The issuance of a new certificate under this section does not constitute an overissue of the shares it represents.

Cite this article: - Maryland Code, Corporations and Associations § 2-213 - last updated December 31, 2021 |

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