Md. Code, Corporations and Associations § 4-201
Md. Code, Corporations and Associations § 4-201
in effect(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 § 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca§ion=4-201&enactments=falseFetched: 10/16/2026