What is a statutory close corporation?

It is a corporation with fewer than 50 shareholders that includes a statement in its articles of incorporation that it elects to be a statutory close corporation, pursuant to O.C.G.A. 14-9-902.

Provisions of law beginning at 14-2-901 govern close corporations.

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What is a statutory close corporation?
Does the Corporations Division have phone numbers for LLC's or officers / registered agents?
How do I apply for IRS Federal tax exemption as a charitable organization?
How do I obtain an EIN (Employer Identification Number) for my LLC?
How does an administratively dissolved LLC fix the problem?
How does administrative dissolution occur?
What does LLC administrative dissolution mean?
If I form an LLC, can I still be sued personally?
How many officers must an LLC have?
Is there a minimum age for officers of an LLC?
Are the shareholders or owners of an LLC listed with the Secretary of State?
Are a LLC's bylaws filed with the Secretary of State?
How do I change my Georgia LLC articles of incorporation?
Are trade names registered with the Secretary of State?
What does issuance of a name by the Secretary of State mean?
If I form an LLC, will anyone else be able to use my name?
How can I change the registered agent of my LLC?
What is the "registered agent" of an LLC?
When a foreign corporation that has obtained a certificate of authority no longer transacts business
How does an out-of-state corporation obtain a certificate of authority and is there a fee?
What happens if an out-of-state LLC should file with the State, but does not?
Is an out-of-state LLC required to file with the state of Georgia?
What does O.C.G.A mean?
When must Georgia LLC registration (renewal) be filed?
What is the purpose of an LLC annual registration (renewal)?
How long does it take to complete an LLC filing?
Should I incorporate my business?
What types of entities are there?
How do I change an officer(s) of an LLC?
How do I change an LLC address?
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FAQs - LLC