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§ 1508. Effect of filing of articles of amendment in Department of State and of certificate of ...

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 7 P.S. Banks and Banking (Refs & Annos)
Banking Code of 1965 (Refs & Annos)
Chapter 15. Amendment of Articles (Refs & Annos)
7 P.S. § 1508
§ 1508. Effect of filing of articles of amendment in Department of State and of certificate of amendment
(a) Effective date--As of the filing of the articles of amendment in the Department of State, each amendment shall become effective and the articles of incorporation shall be deemed to be amended accordingly.
(b) Conclusiveness of certificate--The certificate of amendment shall be conclusive evidence of the performance of all conditions required by this act for amendment of articles of incorporation, except as against the Commonwealth.
(c) Existing rights and actions--No amendment shall affect any existing cause of action in favor of or against the institution, any pending action in which the institution is a party or existing rights of persons other than shareholders. If the amendment changes the name of the institution, no action by or against the institution shall be abated for that reason.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1508.
7 P.S. § 1508, PA ST 7 P.S. § 1508
Current through 2022 Regular Session Act 114. Some statute sections may be more current, see credits for details.
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