(a) A corporation may elect to be a close corporation under this title by including in its charter a statement that it is a close corporation. (b) The statement that a corporation is a close corporation shall be: (1) Contained in the articles of incorporation originally filed with the Department; or (2) Added to the charter by an amendment […]
(a) Clear reference to the fact that the corporation is a close corporation shall appear prominently: (1) At the head of the charter document in which the election to be a close corporation is made; (2) In each subsequent charter document of the corporation; and (3) On each certificate representing outstanding stock of the corporation. (b) The status of a […]
The charter of a close corporation may be amended to remove the statement of election to be a close corporation, but only by the affirmative vote of every stockholder and every subscriber for stock of the corporation.
