Answer:
A corporation that has less that 30 shareholders is Close.
Answer: Close.
Explanation:
Close corporations refer to businesses where company owners, directors, officers, and shareholders are prone to sharing overlapping roles for their retention of a small and tight-knit group. They cannot exceed beyond 30 shareholders, and significant restrictions exist on the present owners and shareholders ability for the transfer or sale of stock in the establishment. They are not allowed to perform public stock offerings, and in general the current shareholders need to make unanimous agreement on operation as a close corporation.
