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§ 1222. Rights of dissenting shareholders

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 12. Shares and Shareholders
7 P.S. § 1222
§ 1222. Rights of dissenting shareholders
If a shareholder of an institution shall object to a proposed plan of action of the institution authorized under a section of this act and such section provides that the shareholder shall be entitled to the rights and remedies of a dissenting shareholder, the rights and remedies of such shareholder shall be governed by the provisions of the Business Corporation Law1 applicable to dissenting shareholders and shall be subject to the limitations on such rights and remedies under those provisions. Shares acquired by an institution as a result of the exercise of such rights by a dissenting shareholder may be held and disposed of as treasury shares or, in the case of a merger or consolidation, as otherwise provided in the plan of merger or consolidation.

Credits

1965, Nov. 30, P.L. 847, No. 356, § 1222.

Footnotes

15 Pa.C.S.A. § 1101 et seq.
7 P.S. § 1222, PA ST 7 P.S. § 1222
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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