Find Bill
Find Your Legislator
Legislative Deadlines
March 28, 2024
RSS Feed Permanent URL -A +A

2021 Statute



Prev Article 72. - CLOSE CORPORATIONSNext


17-7214.Operation of close corporation as partnership. No written agreement among stockholders of a close corporation, nor any provision of the articles of incorporation or of the bylaws of the corporation, which agreement or provision relates to any phase of the affairs of such corporation, including but not limited to the management of its business or declaration and payment of dividends, or other division of profits, or the election of directors or officers, or the employment of stockholders by the corporation, or the arbitration of disputes, shall be invalid on the ground that it is an attempt by the parties to the agreement or by the stockholders of the corporation to treat the corporation as if it were a partnership, or to arrange relations among the stockholders or between the stockholders and the corporation in a manner that would be appropriate only among partners.

History: L. 1972, ch. 52, § 138; July 1.



Prev Article 72. - CLOSE CORPORATIONSNext
2024. Powered by KLISS. Rendered: 2024-03-28T15:28:56. Head Rev No: 893615(E)