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§ 331. Merger authorized

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 15 Pa.C.S.A. Corporations and Unincorporated AssociationsEffective: July 1, 2015

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 15 Pa.C.S.A. Corporations and Unincorporated Associations (Refs & Annos)
Part I. Preliminary Provisions (Refs & Annos)
Chapter 3. Entity Transactions (Refs & Annos)
Subchapter C. Merger (Refs & Annos)
Effective: July 1, 2015
15 Pa.C.S.A. § 331
Formerly cited as PA ST 15 Pa.C.S.A. § 1921;  PA ST 15 Pa.C.S.A. § 5921;  PA ST 15 Pa.C.S.A. § 5925;  PA ST 15 Pa.C.S.A. § 8545;  PA ST 15 Pa.C.S.A. § 8956
§ 331. Merger authorized
Currentness
(a) General rule.--Except as provided in section 318 (relating to excluded entities and transactions) or this section, by complying with this chapter:
(1) One or more domestic entities may merge with one or more domestic entities or foreign associations into a surviving association.
(2) Two or more foreign associations may merge into a surviving association that is a domestic entity.
(3) A domestic banking institution may be a merging association or surviving association in a merger with one or more domestic or foreign associations if the surviving association or at least one of the merging associations is a domestic entity.
(b) Foreign law authorization required.--By complying with the applicable provisions of this subchapter, a foreign association may be a party to a merger under this subchapter or may be the surviving association in such a merger if the merger is authorized by the laws of the jurisdiction of formation of the foreign association.
(c) Banking institutions.--Subsection (a)(3) controls over any inconsistent provision of the organic law of a domestic banking institution that is a merging association.
(d) Exception.--A health maintenance organization may be a merging association only if the surviving association is a health maintenance organization.
(e) Cross reference.--See section 314 (relating to regulatory conditions and required notices and approvals).

Credits

2014, Oct. 22, P.L. 2640, No. 172, § 9, effective July 1, 2015.
15 Pa.C.S.A. § 331, PA ST 15 Pa.C.S.A. § 331
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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