17-7204. Election of existing corporation to become close corporation. Any corporation organized under the Kansas general corporation code may become a close corporation under K.S.A. 17-7201 through 17-7216, and amendments thereto, by executing and filing, in accordance with K.S.A. 2021 Supp. 17-7908 through 17-7910, and amendments thereto, a certificate of amendment of its articles of incorporation which shall contain: (a) A statement that it elects to become a close corporation; (b) the provisions required by K.S.A. 17-7202, and amendments thereto, to appear in the articles of incorporation of a close corporation; and (c) a heading stating the name of the corporation and that it is a close corporation. Such amendment shall be adopted in accordance with the requirements of K.S.A. 17-6601 or 17-6602, and amendments thereto, except that it must be approved by a vote of the holders of record of at least 2/3 of the shares of each class of stock of the corporation which are outstanding.
History: L. 1972, ch. 52, § 128; L. 1973, ch. 100, § 16; L. 1998, ch. 189, § 21; L. 2000, ch. 39, § 42; L. 2016, ch. 110, § 108; July 1.
Structure Kansas Statutes
Article 72 - Close Corporations
17-7201 Laws applicable to close corporations.
17-7203 Formation of close corporation.
17-7204 Election of existing corporation to become close corporation.
17-7205 Limitations on continuation of close corporation status.
17-7209 Invalid transfer of close corporation's security; corporate option.
17-7211 Management of close corporation by stockholders.
17-7212 Appointment of custodian for close corporation, when.
17-7214 Operation of close corporation as partnership.
17-7216 Effect of close corporation provisions on other laws.