17-7201.   Laws applicable to close corporations.(a) K.S.A. 17-7201 to 17-7216, inclusive, apply to all close corporations,as defined in K.S.A. 17-7202. Unless a corporation elects to become a close corporationunder the foregoing sections in the manner prescribed therein, it shallbe subject in all respects to the provisions of this act, except theprovisions of K.S.A. 17-7201 to 17-7216, inclusive.

      (b)   All provisions of this act shall be applicable to all closecorporations, as defined in K.S.A. 17-7202, except asotherwise provided in K.S.A. 17-7201 to 17-7216,inclusive.

      History:   L. 1972, ch. 52, § 125; July 1.