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§ 21404. Effective dates and applicability

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 P.S. Corporations and Unincorporated Associations

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 P.S. Corporations and Unincorporated Associations
Gaa Amendments Act of 1990
15 P.S. § 21404
§ 21404. Effective dates and applicability
Currentness
(a) Effective dates.--This act shall take effect immediately, except that:
(1) Subchapter C of Chapter 1 of Title 15 (relating to Corporation Bureau and UCC fees)1 shall take effect on the first day of the month following the month of enactment of this act.
(2) 15 Pa.C.S. § 1702(c) and the amendments to 15 Pa.C.S. §§ 1906 and 1924(b) shall be retroactive to October 1, 1989.
(3) The amendments to 15 Pa.C.S. § 5758(b) shall be retroactive to February 13, 1972.
(4) 15 Pa.C.S. §§ 135(c)(2) and 1901(a)(2) and Chapter 75 of Title 152 and section 401(a), insofar as it repeals the act of June 12, 1968 (P.L. 173, No. 94), known as the Cooperative Agricultural Association Act,3 shall take effect in four months.
(5) The amendments to Chapter 77 of Title 154 shall be retroactive to June 19, 1989.
(6) The amendments to 15 Pa.C.S. § 8562(b) shall take effect in four months and shall not apply to any certificate of partnership interest issued or issuable on the effective date of such amendments.
(7) Title 17 (relating to credit unions) and section 401(d) of this act5 shall take effect in two months.
(8) The expansion of the scope of Subpart B of Part II of Title 156 to include insurance corporations as defined in section 2017 and all related changes in law affecting insurance corporations, including the repeals provided in section 401(b), shall take effect in six months.
(b) Applicability.--The provisions of Title 15 that are derived from former 42 Pa.C.S. Ch. 83 Subch. F (relating to corporate directors' liability):
(1) shall not be construed to repeal or otherwise affect or impair 15 Pa.C.S. § 1728 (relating to interested directors or officers; quorum) or 2538 (relating to approval of transactions with interested shareholders) or 42 Pa.C.S. § 8332.2 (relating to officer, director, or trustee of nonprofit organization negligence standard); and
(2) shall not apply to:
(i) any actions filed prior to January 27, 1987, nor to any breach of performance of duty or any failure of performance of duty by any director or officer of a business corporation occurring prior to that date; or
(ii) any actions filed against or any breach of performance of duty or any failure of performance of duty by any director or officer of any other domestic corporation for profit or not-for-profit occurring prior to the date that such corporation first became or becomes subject to former 42 Pa.C.S. Ch. 83 Subch. F8 or 15 Pa.C.S. Ch. 5 Subch. B (relating to indemnification and corporate directors' liability).9

Credits

1990, Dec. 19, P.L. 834, No. 198, § 404, imd. effective.

Footnotes

1
15 Pa.C.S.A. § 151 et seq.
2
15 Pa.C.S.A. § 7501 et seq.
3
15 P.S. § 12101 et seq. (repealed).
4
15 Pa.C.S.A. § 7701 et seq.
5
15 P.S. § 21401(d).
6
15 Pa.C.S.A. § 1101 et seq.
7
15 P.S. § 21201.
8
42 Pa.C.S.A. § 8361 et seq. (repealed).
9
15 Pa.C.S.A. § 511 et seq. (repealed).
15 P.S. § 21404, PA ST 15 P.S. § 21404
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document