Location and Access to the Stock and Transfer Book
- The stock and transfer book must be kept at the corporation's principal office.
- It must be accessible for inspection during reasonable hours to any director, stockholder, or member of the corporation.
Permissible Alternative Record-Keeping
- Corporations are allowed to open a share register in any U.S. state or territory.
- An agent or agents may be employed to maintain this share register and to record stock transfers.
- Transfers recorded on these share registers must include the names of parties, date of transfer, certificate number, and number of shares transferred.
Validity of Stock Transfers
- No transfer of stock is valid between parties unless noted in the share register.
- The record must reflect essential transaction details such as name of parties, date, certificate number, and share quantities.
Effectivity of the Amendment
- The amendment took effect immediately upon approval on November 22, 1930.