46.1(1)A security issued by a corporation may be represented by a security certificate or may be an uncertificated security.

46.1(2)Unless otherwise provided by the corporation’s articles, the directors of a corporation may provide by resolution that any or all classes and series of its shares or other securities shall be uncertificated securities, provided that the resolution does not apply to securities represented by a certificate until the certificate is surrendered to the corporation.

46.1(3)Within a reasonable time after the issuance or transfer of an uncertificated security, the corporation shall send to the registered holder of the uncertificated security a written notice containing the information required to be stated on a security certificate in accordance with subsections 47(4) and (10).

46.1(4)Except as otherwise provided by law, the rights and obligations of the registered holders of uncertificated securities and the rights and obligations of the holders of certificated securities of the same class and series shall be identical.