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271B.6-250 Form and content of certificate.
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Shares may but need not be represented by certificates. Unless this chapter or
another statute expressly provides otherwise, the rights and obligations of
shareholders shall be identical whether or not their shares are represented by
certificates.
At a minimum each share certificate shall state on its face:
(a) The name of the issuing corporation and that it is organized under the law
of this state;
(b) The name of the person to whom issued; and
(c) The number and class of shares and the designation of the series, if any,
the certificate represents.
If the issuing corporation is authorized to issue different classes of shares or
different series within a class, the designations, relative rights, preferences,
and limitations applicable to each class and the variations in rights,
preferences, and limitations determined for each series (and the authority of
the board of directors to determine variations for future series) shall be
summarized on the front or back of each certificate. Alternatively, each
certificate may state conspicuously on its front or back that the corporation will
furnish the shareholder this information on request in writing and without
charge.
Each share certificate:
(a) Must be signed (either manually or in facsimile) by two (2) officers
designated in the bylaws or by the board of directors; and
(b) May bear the corporate seal or its facsimile.
If the person who signed (either manually or in facsimile) a share certificate no
longer holds office when the certificate is issued, the certificate shall
nevertheless be valid.
Effective:January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 42, effective January 1, 1989.
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