1668

LAWS OF MARYLAND

[Ch. 311

CORPORATION MAY ACT IN MORE THAN ONE CAPACITY TO EXECUTE,
ACKNOWLEDGE, OR VERIFY ANY INSTRUMENT REQUIRED TO BE
EXECUTED, ACKNOWLEDGED, OR VERIFIED BY MORE THAN ONE
OFFICER.

REVISOR'S NOTE: This subsection presently appears as
Art. 23, §111. It is an exception to the
general requirements of §2—415.

The only changes are in style.

SUBTITLE 2. ELECTION TO BE A CLOSE CORPORATION.

4-201. STATEMENT OF ELECTION.

(A)   STATEMENT TO BE CONTAINED IN CHARTER.

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)   PROCEDURE.

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.

REVISOR'S NOTE: This section presently appears as
Art. 23, §100(a).

The only changes are in style.

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