GrandSouth Bancorporation Series A Preferred Stock Certificate

Summary

This document certifies ownership of Series A Preferred Stock in GrandSouth Bancorporation, a company organized in South Carolina. It states that the named holder owns a specified number of fully paid, nonassessable shares, which can be transferred only on the corporation’s books by the holder or an authorized agent. The certificate references the Articles of Incorporation for details on rights and preferences of the stock. It also clarifies that these securities are not bank deposits and are not insured by the FDIC or any government agency.

EX-4.2(B) 5 gsb8k-tarp12_9ex42b.txt EXHIBIT 4.2(b) NUMBER SHARES A- **___________** SERIES A PREFERRED STOCK GrandSouth Bancorporation ORGANIZED UNDER THE LAWS OF SOUTH CAROLINA This certifies that ___________________________________________ is the owner of _____________________________ shares of the Series A Preferred Stock, no Par Value, of GrandSouth Bancorporation, fully paid and nonassessable transferable only on the books of the Corporation by the holder hereof in person or by duly authorized attorney upon surrender of this certificate properly indorsed. A full statement of the designations, preferences, limitations, and relative rights of the shares of each class of stock authorized to be issued by the Corporation, and the variations in the relative rights and preferences between the shares of each series of preferred stock which the Corporation is authorized to issue, so far as the same have been fixed and determined, and the authority, if any, of the Corporation's board of directors to fix and determine the relative rights and preferences of other series of preferred stock is set forth in the Articles of Incorporation of the Corporation, as amended. Copies of such Articles of Incorporation may be obtained by any shareholder upon request, without charge, from the office of the Corporation. In witness whereof, the said Corporation has caused this Certificate to be signed by its duly authorized officers and its facsimile seal to be hereunto affixed. Dated:_______________ [SEAL] ____________________________ ______________________________________ Secretary President GRANDSOUTH BANCORPORATION Series A Preferred Stock THE SECURITIES REPRESENTED BY THIS INSTRUMENT ARE NOT SAVINGS ACCOUNTS, DEPOSITS OR OTHER OBLIGATIONS OF A BANK AND ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY. NOTICE. THE SIGNATURE ON THE ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR. IF SIGNED BY AN OFFICER OR AGENT, THE AUTHORITY OF THE SIGNER MUST BE SHOWN. FOR VALUE RECEIVED,____________ hereby sell, assign and transfer unto _______________________________________________________________________ (Please print or typewrite name and address of Assignee) _______________________________________________________________________ __________________________________________________________________ (Social security or other taxpayer identifying number of assignee) the shares represented by the within Certificate, and do hereby irrevocably constitute and appoint ______________________________________________ Attorney to transfer the said Shares on the books of the within named Corporation with full power of substitution in the premises. Dated _________________, 20__. X __________________________________