Limitations on continuation of close corporation status.
Del. Code tit. 8, § 345
in effectA close corporation continues to be such and to be subject to this subchapter until:
(1) It files with the Secretary of State a certificate of amendment deleting from its certificate of incorporation the provisions required or permitted by § 342 of this title to be stated in the certificate of incorporation to qualify it as a close corporation; or
(2) Any 1 of the provisions or conditions required or permitted by § 342 of this title to be stated in a certificate of incorporation to qualify a corporation as a close corporation has in fact been breached and neither the corporation nor any of its stockholders takes the steps required by § 348 of this title to prevent such loss of status or to remedy such breach.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title8/c001/sc14/index.htmlFetched: 10/4/2026