1. (1) Each certificate heretofore or hereafter issued as evidence of ownership of Guaranty Stock shall clearly show on its face in a typed size no less then 50 points that such stock is "Guaranty Stock." In addition, each stock certificate shall state the restrictions upon such stock, including the following:

   1. (a) That Guaranty Stock constitutes a secondary reserve for losses,
   2. (b) That Guaranty Stock is non-withdrawable.
   3. (c) That Guaranty Stock is assessable in the hands of the owner thereof to the par value thereof.
   4. (d) That Guaranty Stock is entitled to the payment of dividends only after dividends have been declared and paid on all free share accounts.
   5. (e) Such other restrictions with respect to the stock as may be required to appear on the certificate.

Authority: T.C.A. §45-1303. Administrative History: Original Rule certified June 10, 1974.