[§414-86]  Form and content of certificates. 
(a)  Shares may but need not be represented by certificates.  Unless this
chapter or another statute expressly provides otherwise, the rights and
obligations of shareholders are identical whether or not their shares are
represented by certificates.



(b)  At a minimum each share certificate must
state on its face:



(1)  The name of the issuing corporation and that it
is organized under the law of this State;



(2)  The name of the person to whom issued; and



(3)  The number and class of shares and the
designation of the series, if any, the certificate represents.



(c)  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) must 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.



(d)  Each share certificate:



(1)  Must be signed (either manually or in facsimile)
by two officers designated in the bylaws or by the board of directors; and



(2)  May bear the corporate seal or its facsimile.



(e)  If the person who signed (either manually
or in facsimile) a share certificate no longer holds office when the
certificate is issued, the certificate is nevertheless valid. [L 2000, c 244,
pt of §1]