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§ 4-201. Charter, statement of election

West's Annotated Code of MarylandCorporations and Associations

West's Annotated Code of Maryland
Corporations and Associations
Title 4. Close Corporations (Refs & Annos)
Subtitle 2. Election to be a Close Corporation
MD Code, Corporations and Associations, § 4-201
§ 4-201. Charter, statement of election
Currentness
Statement
(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.
Requirements
(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 which is approved:
(i) Under the provisions of § 2-603 of this article, if at the time of the adoption of the amendment no stock of the corporation is either outstanding or subscribed for; or
(ii) By the affirmative vote of every stockholder and every subscriber for stock of the corporation.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.
Formerly Art. 23, § 100.
MD Code, Corporations and Associations, § 4-201, MD CORP & ASSNS § 4-201
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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