PocketLaw | Delaware Code | Close Corporations; Special Provisions

Close Corporations; Special Provisions

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Law applicable to close corporation.

Close corporation defined; contents of certificate of incorporation.

Formation of a close corporation.

Election of existing corporation to become a close corporation.

Limitations on continuation of close corporation status.

Voluntary termination of close corporation status by amendment of certificate of incorporation; vote required.

Issuance or transfer of stock of a close corporation in breach of qualifying conditions.

Involuntary termination of close corporation status; proceeding to prevent loss of status.

Corporate option where a restriction on transfer of a security is held invalid.

Agreements restricting discretion of directors.

Management by stockholders.

Appointment of custodian for close corporation.

Appointment of a provisional director in certain cases.

Operating corporation as partnership.

Stockholders' option to dissolve corporation.

Effect of this subchapter on other laws.