Printable Format17-7203. Formation of close corporation. A close corporation shall be formed in accordance with K.S.A. 17-6001 and 17-6002 and K.S.A. 17-7908 through 17-7910, and amendments thereto, except that:
(a) Its articles of incorporation shall contain a heading stating the name of the corporation and that it is a close corporation; and
(b) its articles of incorporation shall contain the provisions required by K.S.A. 17-7202, and amendments thereto.
History: L. 1972, ch. 52, § 127; L. 2016, ch. 110, § 107; July 1.
Source or Prior Law:
8 Del. C. § 343.
Cross References to Related Sections:
"Articles of incorporation" defined, see 17-6004, 17-7501.
Law Review and Bar Journal References:
"Shareholder Duties in Closely Held Kansas Corporations After Hunt v. Data Management Resources," Robert Drumm, 49 K.L.R. 1159 (2001).
CASE ANNOTATIONS
1. State does not recognize closely held corporations as fitting statutory definition of close corporation. Hunt v. Data Mgt. Resources, Inc., 26 Kan. App. 2d 405, 407, 985 P.2d 730 (1999).