21-247. Shares without certificates.
102 words·~1 min read·
/ne/chapter-21/21-247A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(MBCA 6.26)
(a)Unless the articles of incorporation 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. The authorization does not affect shares already represented by certificates until they are surrendered to the corporation.
(b)Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates by subsections
(b)and
(c)of section 21-246 , and, if applicable, section 21-248 .