Section 4-202 - Required references to close corporation status. - Maryland Statutes

§ 4-202. Required references to close corporation status.
 

(a)  Clear reference required.- 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)  Absence of reference.- The status of a corporation as a close corporation is not affected by the failure of any charter document or stock certificate to contain the reference required by this section. 
 

[An. Code 1957, art. 23, § 100; 1975, ch. 311, § 2.]