Page:United States Statutes at Large Volume 68 Part 1.djvu/236

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PUBLIC LAW 389-JUNE 8, 1954

[68 S T A T.

or a vice president, and verified by him, and the corporate seal shall be thereto affixed, attested by the secretary or an assistant secretary, which statement shall set forth— (1) the name of the corporation; (2) the aggregate number of shares which the corporation had authority to issue, itemized by classes and series; (3) the number of shares canceled, itemized by classes and series; (4) the number of shares which the corporation has authority to issue, itemized by classes and series, after giving effect to such cancellation; (5) a statement of the aggregate number of issued shares itemized by classes, par value of shares, shares without par value, and series, if any, within a class, after giving effect to the cancellation; (6) a statement, expressed in dollars, of the amount of the stated capital and the amount of paid-in surplus of the corporation after giving effect to such cancellation. (d) Such statement shall be delivered to the Commissioners. If the Commissioners find that such statement conforms to law, they shall— (1) endorse on each of such duplicate originals the word "Filed", and the month, day, and year of the filing thereof; (2) file one of such duplicate originals in their office. (e) The duplicate original shall be recorded in the office of the Recorder of Deeds. (f) The filing of such statement by the Commissioners shall operate as an amendment to the articles of incorporation and shall reduce the number of shares of the class so canceled which the corporation is authorized to issue by the number of shares so canceled. (g) Nothing contained in this section shall be construed to forbid a reduction of authorized shares or a reduction of stated capital in any other manner permitted by this Act. C A N C E L L A T I O N OF REACQUIRED SHARES

SEC. 60. (a) A corporation may at any time, by resolution of its board of directors, cancel all or any part of the shares of the corporation of any class reacquired by it through redemption, purchase, or otherwise, and in the event of such cancellation a statement of cancellation shall be filed as provided in this section. When any reacquired shares have been canceled by resolution of the board of directors, a statement shall be executed in duplicate by the corporation by its president or a vice president, and verified by him, and the corporate seal shall be thereto affixed, attested by the secretary or assistant secretary, which statement shall set forth— (1) the name of the corporation; (2) the aggregate number of shares which the corporation has authority to issue, itemized hj classes, par value of shares, shares without par value, and series, if any, within a class; (3) the aggregate number of issued shares, itemized by classes, par value of shares, shares without par value, and series, if any, within a class before giving effect to such cancellation; (4) the number of shares canceled, itemized by classes, par value of shares, shares without par value, and series, if any, within a class; (5) a statement that the shares so canceled were canceled by a resolution duly adopted by the board of directors; (6) the aggregate number of issued shares, itemized by classes, par value of shares, shares without par value, and series, if any, within a class, after giving effect to such cancellation;

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