Assertion: close corporation's article | /r/HasProperty | provision
Facets:
Source sentences:
text: The articles of incorporation of any close corporation may include a provision granting to any stockholder or to the holder of any specified number or percentage of shares of any class of stock an option to have the corporation dissolved at will or upon the occurrence of any specified event or contingency.
text: If the articles of incorporation contain such a provision, that provision may not be amended, repealed or modified by any vote less than that required to terminate the status of the corporation as a close corporation.
text: If the articles of incorporation as originally filed do not contain a provision authorized by subsection 1, the articles may be amended to include such a provision if adopted by the affirmative vote of the holders of all the outstanding stock, whether or not otherwise entitled to vote, unless the articles of incorporation specifically authorize such an amendment by a vote which is not less than two-thirds of all the outstanding stock, whether or not otherwise entitled to vote.
text: The close corporation's Articles of Incorporation must include a provision that limits the amount of shareholders to the required number.
text: The articles governing shareholders and board members can include these provisions, or they can stand alone in an article covering meetings only.