# Corporations and Associations (GCA)

## Title 4. Close Corporations

### Subtitle 1. Definitions; General Provisions

#### Section 4-101

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

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

(c) "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.

#### Section 4-102

Notwithstanding any contrary provision of law, an individual who holds more than one office in a close 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.

---

Md. Code Ann., Corps. & Ass'ns (as displayed at mgaleg.maryland.gov, October 16, 2026)