§31D-6-626. Shares without certificates.
(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), section six hundred
twenty-five of this article and, if applicable, section six hundred
twenty-seven of this article.