Section 12 in State Bank of India General Regulations, 1955
12. Issue of share certificates free of charge.
- [(1) A shareholder shall be entitled to one certificate for each fifty shares or multiples thereof registered in his name on any one occasion and one additional share certificate for the number of shares in excess thereof but less than fifty.] [Substituted by Resn. C.B.S.B.I. , dated 29-11-1994 (w.e.f. 15-10-1993).](2)If the number of shares to be registered is less than [fifty] [Substituted,'five' by Resn. C.B.S.B.I. , dated 29-11-1994 (w.e.f. 15-10-1993).], one certificate shall be issued for all the shares.(3)[ If any shareholder requires more certificates than the number to which he is entitled under this regulation, the [Central Board or its Executive Committee] [Substituted by Resn. C.B.S.B.I., dated 20-11-1964.] may have such additional certificates issued, at its [(***)] [Deleted by Resn. C.B.S.B.I., dated 26-2-1987.] discretion.](4)In the case of shares held jointly by several persons, delivery of the relative certificate or certificates to one of such joint holders shall be sufficient delivery to all, and a receipt signed by any one of the joint-holders shall effectually bind all the joint holders.
