§ 4-101. Definitions

Latest version.

(a) In general. -- In this title the following words have the meanings indicated.

(b) Close corporation. -- "Close corporation" means a corporation which elects to be a close corporation in accordance with § 4-201 of this title.

(c) Unanimous stockholders' agreement. -- "Unanimous stockholders' agreement" means an agreement to which every stockholder of a close corporation actually has assented and which is contained in its charter or bylaws or in a written instrument signed by all the stockholders.

HISTORY: An. Code 1957, art. 23, § 100, 104; 1975, ch. 311, § 2.

                    
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