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(a) Shares of a corporation must be represented by certificates. Each share certificate must conspicuously state:

(1) The name of the issuing corporation; and

(2) A recitation that it is organized under the laws of the Yurok Tribe; and

(3) The name of the person to whom the certificate is issued; and

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

(b) 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 variations in rights, preferences, and limitations determined for each series; and authority of the board of directors to determine variations for future series; must be summarized conspicuously on each certificate. Alternatively, each certificate may state conspicuously that the corporation will furnish the shareholder this information on request in writing and without charge.

(c) Each share certificate:

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

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

(d) Validity of a certificate is not affected where the individual who signed (either manually or by facsimile) the certificate no longer holds office when the certificate is issued.

(e) No certificate shall be issued for any share until consideration established for its issuance is actually received by the corporation. [Ord. 18 Part II § 2, adopted, 10/7/2008.]