In close corporations, restrictions on the transfer of stock to "outsiders" are void.
A provision giving a corporation the right to purchase a shareholder's shares on the death of the shareholder is invalid.

Name: In close corporations, restrictions on the transfer of stock to "outsiders" are void. A provision giving a corporation the right to purchase a shareholder's shares on the death of the shareholder is invalid.
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The Answer is False

In Close Corporations, Restrictions on the Transfer of Stock to "Outsiders