Md. Code, Corp. & Ass'ns § 4-201

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 4-201 - Statement of election
(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 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.

Md. Code, CA § 4-201