(a) This chapter governs all close corporations, as defined in § 3823 of this title. Unless a corporation elects to become a close corporation under and in the manner prescribed in this chapter, it shall be subject in all respects to the provisions of this subtitle, except as provided in this chapter.\n(b) The provisions of this subtitle shall be applicable to all close corporations, as defined in § 3823 of this title, except insofar as this chapter otherwise provides.\nHistory —Dec. 16, 2009, No. 164, § 14.01.
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