Section 46: New certificates upon transfer or pledge
73 words·~1 min read·
/ma/part-i/title-xxii/chapter-155/46·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 46. A pledgee of stock transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty which is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a stockholder, and entitled to vote thereon.