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This Election to be a Statutory Close Corporation should appear in the articles of incorporation. Such a provision will help ensure that the corporation gains and maintains its status as a Statutory Close Corporation. The form contains standard clauses, however, additional terms and conditions can be added making it fully customizable to fit the needs of the user. Use this form as an addition to Articles of Incorporation if the shareholders and the Board of Directors would like to vote to have the option of the corporation becoming a Close Corporation.
"Article of Incorporation Provision - Close Corporation"