# Corporations and Associations (GCA)

## Title 4. Close Corporations

### Subtitle 2. Election to Be a Close Corporation

#### Section 4-201

(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 Sec. 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.

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