Laws applicable to close corporations

17-7201. Laws applicable to close corporations. (a) K.S.A. 17-7201 through 17-7216, and amendments thereto, apply to all close corporations, as defined in K.S.A. 17-7202, and amendments thereto. Unless a corporation elects to become a close corporation under the foregoing sections in the manner prescribed therein, it shall be subject in all respects to the provisions of this code, except the provisions of K.S.A. 17-7201 through 17-7216, and amendments thereto. (b) All provisions of this code shall be applicable to all close corporations, as defined in K.S.A. 17-7202, and amendments thereto, except as otherwise provided in K.S.A. 17-7201 through 17-7216, and amendments thereto. History: L. 1972, ch. 52, § 125; L. 2016, ch. 110, § 106; July 1. Source or Prior Law: 8 Del. C. § 341. Cross References to Related Sections: Application of code, see 17-6101(b), 17-7403. Effect of 17-7201 through 17-7215 on other laws, see 17-7216. Application of code to foreign corporations, see 17-7305(c). Law Review and Bar Journal References: "Shareholder Duties in Closely Held Kansas Corporations After Hunt v. Data Management Resources," Robert Drumm, 49 K.L.R. 1159 (2001).