§ 2307. Voluntary termination of statutory close corporation status by amendment of articles.
(a) General rule.--A statutory close corporation may voluntarily terminate its status as such and cease to be subject to this chapter by amending its articles to delete therefrom the additional provision required by section 2303(1) (relating to formation of statutory close corporations) to be stated in the articles of a statutory close corporation.
(b) Procedure.--The amendment shall not be effective unless it is adopted by at least the minimum vote.
Cross References. Section 2307 is referred to in sections 2306, 2308, 2309 of this title.
Section: Previous 2301 2302 2303 2304 2305 2306 2307 2308 2309 2321 2322 2323 2324 2325 NextLast modified: October 8, 2016