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The method calls a method in a base class to set a property that indicates whether a particular instance of a control is static. In the Web Parts control set, a static control is a control that is declared in the markup of a Web page. This is in contrast to a dynamic control, which is either added to a page programmatically, or added by a user from a catalog of controls. A static control is inherently a shared control, meaning that it is visible to all users of a page, and although users can close a static control, they can never delete (permanently remove) it.
For more on personalization, static versus dynamic controls, and shared versus per-user controls, see Web Parts Personalization Overview.